Official payment institution
Since 4 October 2012, PayPro has the license to operate the payment service provider business. Since then, your customers can pay online in a simple way through PayPro. This license means that PayPro is a payment institution which is under the permanent supervision of De Nederlansche Bank and the Netherlands Authority for the Financial Markets (AFM).
Fulfilment of risk management
That PayPro has this license, means that we showed to have complied with certain rules of the Dutch Financial Supervision Act (Wet op het financieel toezicht) (Wft). But also to the rules of the Money Laundering and Terrorist Financing Prevention Act (Wet ter voorkoming van witwassen en financieren van terrorisme) (Wwft). These rules include, among others, rules for risk management regarding integrity, finance and privacy.
Intermediary payment services
The license was granted by De Nederlansche Bank, based on the European Directive payment services (2007/64/EC). It is prohibited to offer payment services without a license. This license is why PayPro can offer intermediary services that are provided to the payer and/or payment beneficiary.
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