Can an entity be considered to “operate as a payment service provider” within the meaning of Section 1:1 of the Wft if it executes payment transactions on behalf of customers that are part of other business activities not related to the provision of payment services?
“Operating as a payment service provider” means providing payment services on behalf of a payer or payee as a separately identifiable activity. This means the activity must be separate and not inextricably linked to another activity unrelated to payment services.
The following professional groups that execute payment transactions do not qualify as payment service providers offering payment services as a separately identifiable activity:
On Tuesday 5th November from 3:00-4:45 PM CET DNB will organize a physical information session about fit and proper assessments.
Read more Information session about fit and proper assessments DNB
In light of the IFR/IFD Review, the Dutch Ministry of Finance, the Dutch Authority for the Financial Markets (AFM) and De Nederlandsche Bank (DNB) present recommendations for the review of the Investment Firms Regulation (IFR) and the Investment Firms Directive (IFD).
Read more The Dutch Ministry of Finance, the AFM and DNB: recommendations for the review of the prudential framework for investment firms
We have established that in many cases the quality of prudential reporting has room for improvement. Therefore, we have published good practices on data quality.
Read more Good Practices on data quality put up for consultation
Embedded finance offers customers the convenience of in-app payment options and on-the-spot insurance. This seamless integration of financial services, available exactly when and where they are needed, makes life simpler. But this innovation also entails new risks.
Read more Embedded finance: striking a balance between convenience and risk in the digital economy
