Through this authorisation, PAYONE becomes a regulated payment institution and consequentially has the right to provide payment transaction services to which only banks were entitled in the past. On this basis, PAYONE is going to offer online dealers all components which are required for accepting and processing payments, such as keeping accounts and accepting cards; this offer will be an integrated comprehensive solution.
With the authorisation granted by BaFin, PAYONE is able, in addition to the technical processing and the transmission of payment transactions via the PAYONE platform, to process the entire payment flow up to the payout to the dealer. Within the framework of the new service, the PAYONE experts will be responsible for the more complicated tasks related to cash management for national and international single payments. PAYONE effects a central aggregated payout the dealers current account for all processed payments.
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