DIMOCO’s Payment Service Act License Passported to the EU

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DIMOCO payment license Europe

DIMOCO today announces that its established payment institute, that holds a payment service act license from the Austrian Financial Market Authority (FMA), had its license passported to all 28 EU member states during February 2016. With this expansion of its license, the Fintech company is now a European-wide regulated payment institute with its payment service act license notified at the central banks across the EU.

“We are now in a solid position to support our telecom carriers and merchants in their EU-wide business efforts as the number one payment institute for carrier billing in Europe,” said Gerald Tauchner, DIMOCO president & CEO.

Financial Market Regulator grants EU Payment License to DIMOCO

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The Austrian Financial Market Authority (FMA) granted a payment service license to DIMOCO to operate a regulated payment institute on Jan. 19, 2016. The approval of the license marks the start of a new dimension for DIMOCO’s EU-wide digital payment business. When it comes to entities that are intimately trusted by mobile network operators, receiving this payment license may well be the most important evidence of professional governance.

 

DIMOCO’s

President and CEO, Gerald Tauchner, said in a first statement last week that being granted the payment license is a breakthrough, meaning the institute is deemed fit as a FinTech for direct carrier billing of micropayment transactions across Europe.
Compliance with the requirements of the Payment Services Directive (PSD) and respective national regulations builds the most appropriate step forward on sustainable expansions for mobile operator payments in the digital sector. DIMOCO has now made a formal passport notification which enables the payment institute to operate its payment business in all EU and EEA member countries.