It is hard to imagine the modern world without electronic payments. The payment system is an integral element of the electronic cash flow. Commissions and fees, as well as a range of payment options, vary and are regulated by financial and market relations. While some entrepreneurs are looking for the most favourable payment terms for their business, others are creating their own payment systems.
If you consider establishing and operating a FinTech business and acting as a payment service provider, you should procure an authorisation in a relevant jurisdiction.
Mayon Solutions provides all-in-one legal support for the implementation of fintech projects. Our experts know the peculiarities of the industry and have a considerable experience in facilitating the procurement of the necessary licences to give a head start for the implementation of your ideas.
Depending on the project-specific business model we can assist with obtaining PI/API/SPI/, EMI/SEMI, MSO/SVF licences.
We offer a wide range of services in connection with the implementation of fintech projects, including:
- Shaping the project-specific business model
- Tax planning and corporate structuring
- Setting up settlement accounts
- Licencing, including drafting the company’s internal policies required by the regulator; drafting and filing the documents and applications required for obtaining the licences; communicating with relevant authorities; advising and accompanying the client at interviews with relevant authorities; selecting local office premises; selecting and hiring qualified officers (AML and KYC officers).
- Connecting to SEPA
- Obtaining IBAN
- Setting up a safeguarded account
- Accounting and reporting
Licensing
PSP and EMI licences
MSO and SVF licences
Сryptocurrency exchange licences