Payment License Services
Payment License Services
We work with payment fintechs that need licensing in the US, EU, or both. Whether you're applying for a money transmitter license or pursuing an Electronic Money Institution (EMI) or Payment Institution (PI) license under PSD2, we guide you through regulatory requirements across jurisdictions.
We work with payment fintechs that need licensing in the US, EU, or both. Whether you're applying for a money transmitter license or pursuing an Electronic Money Institution (EMI) or Payment Institution (PI) license under PSD2, we guide you through regulatory requirements across jurisdictions.
As seen on:
As seen on:
As seen on:
Eligibility
Eligibility
Who Needs a Payment License?
You don’t need to be a bank to fall under payment regulations. Many fintech models are covered, even if they don’t directly handle cash. Here are some examples of who typically needs to apply for payment licenses.
Embedded Finance Tools
APIs or platforms that embed money movement features into other products must evaluate whether a license is required.
Embedded Finance Tools
APIs or platforms that embed money movement features into other products must evaluate whether a license is required.
Mobile Payment Apps
Apps that let users send, receive, or store money, whether fiat or virtual currency, generally fall under state licensing laws.
Mobile Payment Apps
Apps that let users send, receive, or store money, whether fiat or virtual currency, generally fall under state licensing laws.
Crypto-to-Fiat Payment Tools
Tools that convert crypto to fiat to facilitate payments can count as money transmission, depending on how they’re structured.
Crypto-to-Fiat Payment Tools
Tools that convert crypto to fiat to facilitate payments can count as money transmission, depending on how they’re structured.
Cross-Border Remittance Services
Businesses sending money from the US or EU to other countries must comply with regulations in their jurisdictions.
Cross-Border Remittance Services
Businesses sending money from the US or EU to other countries must comply with regulations in their jurisdictions.
Payroll and Bill Pay Platforms
Services that handle customer funds to pay employees or bills often fall within licensing definitions.
Payroll and Bill Pay Platforms
Services that handle customer funds to pay employees or bills often fall within licensing definitions.
Steps
Steps
Payment License Types
01
Money Transmitter License (US)
State-by-state licensing for businesses that move or handle customer funds. Required in most states and managed through the NMLS.
01
Money Transmitter License (US)
State-by-state licensing for businesses that move or handle customer funds. Required in most states and managed through the NMLS.
02
Electronic Money Institution License (EU)
For companies that issue electronic money or hold funds. Regulated under PSD2, with options to passport across Europe.
02
Electronic Money Institution License (EU)
For companies that issue electronic money or hold funds. Regulated under PSD2, with options to passport across Europe.
03
Small Payment Institution (EU)
A lighter version of the PI license with lower capital and reporting requirements, used for startups processing under a certain transaction threshold. Usually not passportable.
03
Small Payment Institution (EU)
A lighter version of the PI license with lower capital and reporting requirements, used for startups processing under a certain transaction threshold. Usually not passportable.
04
Small EMI (EU)
Similar to the small PI, but for stored value and e-money. It has limitations and is often used as a temporary stepping stone.
04
Small EMI (EU)
Similar to the small PI, but for stored value and e-money. It has limitations and is often used as a temporary stepping stone.
05
Authorized Payment Institution (UK)
Post-Brexit, firms need to register separately in the UK, even if already authorized in the EU.
05
Authorized Payment Institution (UK)
Post-Brexit, firms need to register separately in the UK, even if already authorized in the EU.
Resources
Resources
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FAQ
FAQ
Frequently Asked Questions
Frequently Asked Questions
What licenses do I need to offer payment services in the US?
What licenses do I need to offer payment services in the US?
Do I need separate payment licenses for the UK and the EU?
Do I need separate payment licenses for the UK and the EU?
How much capital is required to become a licensed payment provider?
How much capital is required to become a licensed payment provider?
What is a Payment Institution under PSD2?
What is a Payment Institution under PSD2?
What’s included in a PI license application?
What’s included in a PI license application?
How long does it take to get licensed as a Payment Institution?
How long does it take to get licensed as a Payment Institution?
What’s the difference between a PISP and an AISP?
What’s the difference between a PISP and an AISP?
Connect With a Payment License Specialist
Connect With a Payment License Specialist
Who We Serve
Compliance Services
Compliance Consulting
Compliance Operations
Licensing Services
Resources
About InnReg
The content provided on this website is for informational purposes only and does not constitute legal, investment, tax, or other professional advice. InnReg LLC is not a law firm, tax advisor, or regulated financial institution. Viewing this site or contacting InnReg does not create a client relationship. Results described in case studies or testimonials may not be typical and do not guarantee future outcomes. Tools, spreadsheets, or guides available on this site are provided for illustrative purposes only and should not be relied upon without professional guidance. Any links to third-party websites are provided for convenience and do not constitute endorsement or responsibility for their content. The information on this site may not be applicable in all jurisdictions. While we strive to provide accurate content, we make no representations as to its completeness or timeliness. Some visual assets on this site are sourced from Freepik.
Who We Serve
Compliance Services
Compliance Consulting
Compliance Operations
Licensing Services
Resources
About InnReg
The content provided on this website is for informational purposes only and does not constitute legal, investment, tax, or other professional advice. InnReg LLC is not a law firm, tax advisor, or regulated financial institution. Viewing this site or contacting InnReg does not create a client relationship. Results described in case studies or testimonials may not be typical and do not guarantee future outcomes. Tools, spreadsheets, or guides available on this site are provided for illustrative purposes only and should not be relied upon without professional guidance. Any links to third-party websites are provided for convenience and do not constitute endorsement or responsibility for their content. The information on this site may not be applicable in all jurisdictions. While we strive to provide accurate content, we make no representations as to its completeness or timeliness. Some visual assets on this site are sourced from Freepik.
Who We Serve
Compliance Services
Compliance Consulting
Compliance Operations
Licensing Services
Resources
About InnReg
The content provided on this website is for informational purposes only and does not constitute legal, investment, tax, or other professional advice. InnReg LLC is not a law firm, tax advisor, or regulated financial institution. Viewing this site or contacting InnReg does not create a client relationship. Results described in case studies or testimonials may not be typical and do not guarantee future outcomes. Tools, spreadsheets, or guides available on this site are provided for illustrative purposes only and should not be relied upon without professional guidance. Any links to third-party websites are provided for convenience and do not constitute endorsement or responsibility for their content. The information on this site may not be applicable in all jurisdictions. While we strive to provide accurate content, we make no representations as to its completeness or timeliness. Some visual assets on this site are sourced from Freepik.