Electronic money is the electronic alternative to cash, which enables users to store funds on a device (for example, on a card or phone) or use the Internet to carry out payment transactions. This includes operating an electronic trading point, e-commerce, as well as the issuance of debit cards.
The high requirements in efficiency, data security and availability of the systems are considerable aspects of these kind of transactions.
In order for an applicant to obtain authorization as Electronic Money or Payment Institution in Cyprus, an application must be submitted accompanied by information as defined in the relevant laws and directives.
Our Financial Services Advisory Team (FSAT) can offer a full set-up and authorization/licensing services for EMIs ad well as comprehensive license and post-license compliance support. We offer a wide range or products and services regarding electronic payment, enabling customized solutions for secure and smooth payment processing.