Electronic money institution: license, safeguarding, IBANs, payouts

Electronic Money Institution (EMI)

Content about Electronic Money Institution (EMIs) and how high-risk merchants (iGaming/betting, FX/CFD, crypto/VASP, adult, nutraceuticals, travel, subscriptions) can use them for payments and banking-like rails. We cover:

Licensing & supervision: EU/UK regimes (EMD/PSD, FCA), passporting vs. local authorization, fit-and-proper, governance, outsourcing and agent networks.

Safeguarding & operations: client-money segregation, safeguarding accounts at credit institutions, daily reconciliations, audit requirements, and what EMIs can/can’t do (no deposit-taking/ lending).

Products for merchants: IBAN/virtual IBANs, e-money accounts, FX and multi-currency wallets, SEPA/SEPA Instant, Faster Payments, SWIFT payouts, card issuing/program management, and payout orchestration.

Onboarding/risk: KYB/KYC tiers, EDD for high-risk, AML/KYT, sanctions/geofencing, transaction limits/velocity, source-of-funds/wealth checks, and monitoring rules aligned to acquirer/PSP policies.

Integration: APIs (payments, payouts, reconciliation), webhooks, statement files, settlement timing, and chargeback/refund differences vs. cards.

Market notes: popular EMI hubs (e.g., EU/EEA & UK), typical partner stacks (EMI + acquirer + gateway/orchestrator).

Authoritative outbound resources about Electronic Money Institution:

EU — E-Money Directive & PSD frameworks (European Commission / EUR-Lex)

EBA — Guidelines and Q&As for payment/e-money institutions

UK FCA — E-money & payment services guidance (PERG/EMRs/PSRs)

Central Bank of Ireland — E-Money Institution authorisation

Bank of Lithuania — EMI licensing and supervision

Payment Solutions for High-Risk Startups: Overcoming the First Time Deposit Barrier

Infographic showing key payment onboarding challenges for new high-risk startups like iGaming, Forex, and Crypto

iGaming Payment Insights, Industry-Specific Payment Solutions, Merchant Payment Solutions, Payment Service Providers / WiseAlt

Launching a new project in a high-risk vertical like iGaming, Forex, Crypto, or Dating can be exciting—but accessing reliable payment solutions for new high-risk startups is often the most frustrating roadblock. While mature businesses in these industries are courted by payment providers offering competitive fees, custom solutions, and VIP support, newcomers face the opposite: delays, rejections, and red tape.

Payment Solutions for High-Risk Startups: Overcoming the First Time Deposit Barrier Read More »

How Canadian MSB Can Open RPAA-Compliant Accounts: Segregated, Trust, and Fiduciary Options for FINTRAC and Bank of Canada Compliance

Digital illustration of a stylized bank vault or digital wallet with a padlock, representing MSB compliance with RPAA and FINTRAC through segregated accounts. Features include faint outlines of Canadian financial icons like the Bank of Canada and a maple leaf, with digital payment flows and a color scheme of blues, whites, and green accents.

Consulting and Support Services, General Payment Topics, Global Payment Acceptance, Payment Laws and Compliance / WiseAlt

As of March 2025, Money Services Businesses (MSB) in Canada must navigate a dual regulatory framework enforced by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the Retail Payments Activities Act (RPAA), overseen by the Bank of Canada. Under RPAA, MSB offering retail payment services—such as money transfers, currency exchange, or cryptocurrency wallets—must safeguard client funds in segregated accounts, trust accounts, or fiduciary accounts. Simultaneously, FINTRAC mandates registration and compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) rules. For MSB, this means partnering with financial institutions to open RPAA-compliant accounts that align with FINTRAC obligations.

How Canadian MSB Can Open RPAA-Compliant Accounts: Segregated, Trust, and Fiduciary Options for FINTRAC and Bank of Canada Compliance Read More »

High-Risk Banking Accounts

Adult, Dating Payment Insights, CBD Payment Insights, Crypto Payment Insights, iGaming Payment Insights, Industry-Specific Payment Solutions / WiseAlt

Benefits of Additional Reserve Banking Accounts for High-Risk Businesses For high-risk businesses, maintaining additional or backup banking accounts or IBANs

High-Risk Banking Accounts Read More »