VIENNA — The Austrian Financial Market Authority (FMA) granted a payment service license to DIMOCO to operate a regulated payment institute on January 19, 2016. The approval of the license marks the start of a new dimension for DIMOCO’s EU-wide digital payment business. When it comes to entities that are intimately trusted by mobile network operators (MNO), receiving this payment license may well be the most important evidence of professional governance.
DIMOCO’s President and CEO, Gerald Tauchner, said in a first statement last week that being granted the payment license is a breakthrough, meaning the institute is deemed fit as a FinTech for direct carrier billing of micropayment transactions across Europe.
Compliance with the requirements of the Payment Services Directive (PSD) and respective national regulations builds the most appropriate step forward on sustainable expansions for mobile operator payments in the digital sector. DIMOCO has now made a formal passport notification which enables the payment institute to operate its payment business in all EU and EEA member countries.
The license application procedure was successfully accompanied by a team of specialists from the Austrian law firm PFR, located in Vienna, guided by its practice head of banking, finance & capital markets, Bernd Fletzberger.
