Permission to provide payment service
Ongoing legal advice to the institution from the moment it obtains authorisation to provide payment services.
Our services include:
- drafting legal documentation for credit products distributed through online channels and agents;
- drafting amendments to credit card agreement documentation, in connection with the introduction of new services, changes in legislation and recommendations by supervisory authorities;
- Supervision of the fulfilment of duties of the national payment institution, implementation of guidelines of national and EU supervisory authorities;
- Representation of the institution during audits by the supervisory authorities;
- development and implementation of PSD2 standards for credit card-based payment services;
- advising on personal data protection and acting as a data protection officer.
See also:
Documentation of the anti-money laundering and anti-terrorist financing (AML) system
more
For our client, during regular legal advice, we developed documentation for an anti-money laundering and counter-terrorist financing system (hereinafter “AML/TF system”, maximum penalty for violating those laws may result in financial penalty up to 5 million EUR).
Representation in proceedings to obtain a license to provide payment services as a national payment institution (NPI)
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As part of our ongoing cooperation with a client, a small payment institution, providing payment services including issuing of credit cards and providing payment credit to consumers, we represent the client in the proceedings for obtaining a license to provide payment services as a national payment institution.