Payment Services Licensing
The move towards a cashless society is underway. The technology revolution underpinned by new regulatory frameworks has ushered in new business models, consumer-centric products and new players that are challenging traditional institutions. The processing of personal data has given further importance to security issues. The regulatory landscape is keeping up with the pace of innovation. Companies have no choice but to follow suit.
We are mindful of the vast opportunities technological progress can create. Changing consumer trends underpinned by mobile technology and advancements in payment products and services are opening up new opportunities whilst also enhancing regulatory scrutiny. Financial institutions need clear licensing and regulatory environments where their business can thrive. Malta is very well positioned to service this market and implementation of PSD2 Directive allows payment companies to exploit the European market from a cost-effective jurisdiction.
Licensing processes are known to be complex. Our team of professionals are able to simplify such processes and take the lead in delivering a licensing pack which regulators expect. Our multi-disciplinary team of consultants have working experience with the regulators and have a deep understanding of the laws, regulations and regulatory requirements. This allows us to lead licensing processes by being able to prepare or review the respective documents. We can support throughout from business plan to financial forecasts to internal policies. Seed offers a deep understanding, a clear process and disciplined execution.
Malta’s payment services licence is passportable across all EU/EEA Member States opening up a market of 500 million customers
Initial share capital requirements start from €20,000 up to €125,000 depending on the chosen payment service activities being provided
Malta’s licensing process is robust, transparent and clear. Seed is well positioned to lead the way during the process
The Malta Financial Services Authority is known to be a firm yet approachable regulator with an open door of communication
Malta offers a stable EU jurisdiction with competitive salaries and an English-speaking workforce
Our distinct approach is characterized by specialized knowledge, deep regulatory understanding, a clear process and a disciplined execution strategy