Gregory Cronie recently held an interview (in Dutch) about a.o. the impact of the Payment Services Directive 2 (PSD2), a new EU regulation which was enforced at the beginning of this year, on Marketplaces and Platforms. The article was published in Online Retailer. Main takeaway of the interview is that Marketplaces and Platforms that manage the pay-in and pay-out process themselves i.e. have control or possession of client funds, should get a Payment Institution license or start using a specialised Marketplace PSP. In the Netherlands, the Dutch Central Bank has started writing letters to Marketplaces and Platforms that are not compliant. These Marketplaces and Platforms do risk a fine.
Want to know if your Marketplace or Platform complies with the latest PSD2 regulations? We have created a simple 5-minute assessment that will help you determine if it’s likely or not your Marketplace or Platform needs to obtain a Payment Institution License or not.