Czech payment system license

Czech Payment System License (PSP)

Choosing a favorable jurisdiction for licensing is a serious issue that businessmen often face. If you are planning to register a payment system (PS), the Czech Republic may be a suitable option for licensing.

A Chech payment system license is popular because, first of all, it is perceived as European. In other words, users trust such payment systems more and consider them more reliable and prestigious. All this opens wide opportunities for company owners to conduct international business. Moreover, a Chech payment system license allows for doing business in any part of the EU, including the possibility of attracting potential customers from all over the world.

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Czech Republic payment license: Advantages for a business

Choosing the Czech Republic for licensing, you can count on the following:

  • Obtaining and subsequently maintaining a financial license is relatively inexpensive when compared to some other countries, including the UK and the US.
  • The country has a predominantly inexpensive workforce.
  • The Czech Republic is characterized by friendly and clear taxation.

There are several types of payment system licenses in the Czech Republic:

  • Payment institution.
  • Payment service provider.
  • Electronic money institution.
  • The issuer of virtual finances.

What a company that has obtained a Chech payment system license can do

Depending on the license type, a company can:

  • Open and service customer accounts, taking into account the possibility of assigning IBANs.
  • Issue various financial instruments, including prepaid and debit bank cards.
  • Make wire transfers without opening an account.
  • Receive customer payments, e.g. via bank cards or SWIFT.
  • Provide Internet-acquiring services.
  • Exchange currency and so on.

The fact that the Czech Republic is not offshore deserves special attention. It means that licensed PSs may operate legally in the territory of the EU, cooperating with reliable, prestigious, and popular banks all over the world.

If you want to obtain a Chech payment system license, please contact our specialists. They will provide you with detailed legal advice, help you obtain the necessary license, and solve any issues that may arise during the cooperation.

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