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01/09/2023
YabandPay secured a Payment License from De Nederlandsche Bank

In July 2023, YabandPay, a Dutch-based fintech company, took a milestone step towards becoming a licensed financial institution in Europe. It secured a Payment License from De Nederlandsche Bank (DNB) and completed the sound and solid application process.

The license empowers YabandPay to offer a comprehensive range of online and offline payment solutions, including WeChat Pay, Alipay, UnionPay, iDEAL, Klarna, Visa, Mastercard, Apple Pay, covering a total of 30 countries across the European Economic Area (EEA).

The Netherlands, known for playing a pivotal role of the modern financial and business system, operates under one of the most diligent regulatory frameworks within the European Central Bank system. A financial license is a symbol of a financial institution that represents a high level of compliance and security standards, and trustworthiness. Obtaining a payment license in the Netherlands is subject to conscientious regulatory scrutiny, requiring not only a well-established governance structure and a robust compliance framework, but also a solid business model.

Looking ahead, YabandPay is poised to leverage cutting-edge technology and an extensive global network to provide innovative, compliant, and secure cross-border and local European payment solutions.

 

The source of the picture: De Nederlandsche Bank N.V.

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