Airbnb EU payments base opens in Luxembourg

Airbnb EU payments base opens in Luxembourg
05.12.2019 11:36 am

Airbnb EU payments base opens in Luxembourg

Payments

Airbnb has officially announced that they are set to process EU payments through Luxembourg as of 2020, as a result of Britain’s departure from the European Union.

The American private home rental platform, Airbnb, has announced that EU payments between hosts and guests will be processed through the Grand Duchy as of 2020.

The company opened a subsidiary in Luxembourg at the end of last year and has now been granted a payment institution license in the country. 

“We chose Luxembourg in a post-Brexit context, for its central location, because it is a major financial center and because many payment services are established there. Everybody in Luxembourg is familiar with the complexity of payments in the e-commerce sector,” explained Airbnb.

“The decision to create a payment institution in Luxembourg further strengthens the role of the Grand Duchy as a major payment services hub in the European Union,” said Pierre Gramegna, Luxembourg Finance Minister. 

Leading international players in the payments sector, such as PayPal, Amazon Payments, Rakuten, Satispay, PPRO, Six Payment Services or Alipay have chosen Luxembourg as their hub to serve the entire EU market. In the Grand Duchy, they leverage a regulatory framework of payment licenses to passport their services across the EU (Payment Institution and E-Money Institution licenses), the country’s supportive Fintech ecosystem, as well as its state-of-the-art IT infrastructure.

Related News

Mastercard: Contactless payments have become the “new normal” across the UK

As Mastercard reveal that 66 per cent of all transactions across the UK are now contactless, new research released today identifies consumer habits and viewpoints that mean... Read more »

South Africa’s Mama Money Expands Global Reach with Western Union

Western Union, a leader in cross-border, cross-currency money movement... Read more »

SatoshiPay Secures €550,000 investment from Stellar Development Foundation

The Stellar Development Foundation ("SDF") has made a strategic investment of $550,000 by way of convertible loan notes. This investment marks the third investment made by SDF... Read more »

Enfuce powers payments in MaaS Global’s revolutionary mobility app

Maas Global, the leading Mobility as a Service provider, has partnered with Enfuce – Finland’s largest fintech startup – to launch a card payment offering in Whim, MaaS Global’... Read more »

Paysend calls for accelerated post-crisis FinTech innovation

UK-based FinTech firm Paysend has called for an industry-wide acceleration of innovation across FinTech and payments in response to the global coronavirus situation. Sweeping... Read more »

PPRO publishes its 2020 Payment Almanac

Today, PPRO, the leading local payments platform-as-a-service, launches its 2020 Payment Almanac in partnership with Edgar, Dunn & Company. The... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel