22 Mar 2022 By PAYCEC
It's a common misconception that if you want to provide payment services to clients, you need your own license. In fact, you can use another company's license to become a PSD agent or an EMD agent, which means you can work for a permitted E-money or Payment institution.
When you work as an EMD or EMI (Electronic Money Institution) agent, you are essentially providing payment and e-money services on behalf of a licensed electronic money institution (as defined in the E-money Directive 2, EMD2). You effectively have a sublicence based on the licensed company's authorization.
A PSD or PI (Payment Institution) agent is nearly similar, with the exception that the Payment Services Directive 2 defines an authorized payment institution (PSD2). Again, you have a sub license to deliver these services on the back of another party who is completely authorized to do so.
If you need further assistance or answer, please don't hesitate to contact us.
We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.
Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.
PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.