Two ways to start your payment business fast

Overview:

One of the main factors influencing time-to-market for fintech companies is obtaining legal rights to provide payment services, which is usually associated with getting a PI or EMI licence in the EU or UK.

Obtaining such a licence in Europe extends the time-to-market from one and a half to two years, considering the preparation time before submission and payment infrastructure deployment after authorisation.

Are there other options to start your fintech business faster? Yes! In this webinar, we cover two options for fast-track financial market entry.

During this webinar, Advapay, Linares Abogados, and Phantom Compliance will discuss such topics including:

1. Launching a Canadian MSB (Money Services Business) and developing payment infrastructure
2. The concept of an SPI (Small Payment Institution) in Spain and how it differs from other SPIs in the EEA

Programme:

Welcome speech

1 – Accessing the EEA payment market through Spain’s small Payment Institution, Linares Abogados

• Why Spain’s SPI is a fast way to start operating
• Next steps: API or EMI? Which one to choose
• How to manage crypto-related activities
• The new EBA guidelines and their impact on licensing processes

2 - Canadian MSB – an affordable alternative to the European EMI licence, Advapay     

• Advantages and disadvantages compared to the European EMI licence  
• The process of obtaining MSB registration
• Development of payment infrastructure  

3 - Money Services Business (MSB) regulations impacting payment and financial services in Canada, Phantom Compliance

• Regulatory requirements: summary of the PCMLTFR and the RPAA
• Physical presence
• Crypto operations under MSB

Closing remarks