RS2 Granted Electronic Money Institution License from the German Federal Financial Supervisory Authority
- Payments , e-Payments
- 25.05.2021 09:15 am
RS2, the global payments processing and technology provider, today announced that its German subsidiary, RS2 Financial Services GmbH, has been granted an E-Money Institution (EMI) license by the German regulator, the German Federal Financial Supervisory Authority (BaFIN).
The EMI license will enable RS2 to provide a wider range of payment acceptance methods for its merchant customers, including all major international card schemes such as Mastercard, Visa, American Express, UnionPay and Discover, as well as over 200 alternative payment methods via e-wallets - such as Google Pay, Samsung Pay and Apple Pay, and crypto services. It will also allow RS2 to provide additional financial services support to merchants and consumers across Europe, as well as the processing of cross-border payments for global merchants. For example, RS2’s merchant customers will have access to issuing products such as funding, purchasing, prepaid, loyalty and gift cards. On the consumer side, a wide range of services will be offered through mobile wallets, loyalty programs and physical and virtual cards.
“The EMI license will enable our customers to access a variety of services related to payments and financial instruments, combined with a wide range of tools, enabling them to run their businesses more efficiently, whilst also having real-time access to financial data, reporting, reconciliation and invoicing,” said Radi El Haj, CEO, RS2.
“Managing both issuing and acquiring on the same platform, RS2 Financial Services is dedicated to creating a unique customer experience for both merchants and consumers by providing tailor-made services that allow transactions and shopping within a trusted business environment,” concluded Haj.
All services will be launched and live during the second half of 2021.
About RS2 Software plc
RS2 is a leading provider of global omnichannel payment software and processing solutions for both issuing and acquiring on one single platform. The RS2 platform is built on the latest technology providing an end-to-end payment solution to banks, large financial institutions, integrated software vendors (ISVs), payment facilitators (PayFacs), independent sales organizations (ISOs), and merchants throughout Europe, North America, Latin America (LATAM), the Asia Pacific (APAC) region, and the Middle East – covering various industries such as travel, hospitality, retail, gaming, FX, and health care. With offices around the world, RS2 supports over 250 clients in more than 35 different countries, processing thousands of transactions per second in over 200 currencies and settling in more than 80 cross omnichannel. Through a single API, RS2 provides Integration and a fully-automated sandbox for customer onboarding, processing and reporting. RS2’s services cover omnichannel global acquiring, including POS, in-app transactions, mPOS, e-commerce, MOTO, e-wallets and APM. RS2 also enables clients’ issuing strategies, including products such as virtual prepaid, gift, loyalty, corporate and purchasing cards. RS2 delivers consolidated reporting of all payments methods on a single statement and also provides integration to customer’s general ledger accounting system.www.rs2.com