Worldline - 2019 Universal Registration Document
WORLDLINE Worldline: a regulated Group
Worldline: a regulated Group C.4
As payment is a global business the Worldline Group has to some are addressing dedicated regions only and some various, consider the global regulatory landscape which is a quite and what it makes it even more complex is the overlapping in complex task as the number of new initiatives is increasing the scopes. year by year, impacting the stakeholders in different ways,
European Regulation C.4.1
Regulation of payment services in C.4.1.1 Europe The provision of payment services is a regulated activity that requires a license when carried out in European Union member states that have implemented the revised Payment Services Directive (PSD2) entered into force early 2018, which regulates payment services in domestic markets. Under this regulation, the following activities, in which the Group participates 1 , are considered to be payment services: 3. Execution of payment transactions, including transfers ● of funds on a payment account with the user's payment service provider or with another payment service provider: a) Execution of direct debits, including one-off direct ● debits; b) Execution of payment transactions through a payment ● card or a similar device; c) Execution of credit transfers, including standing ● orders. 4. Execution of payment transactions where the funds are ● covered by a credit line for a payment service user: a) Execution of direct debits, including one-off direct ● debits; b) Execution of payment transactions through a payment ● card or a similar device; c) Execution of credit transfers, including standing ● orders. 5. Issuing of payment instruments and/or acquiring of ●
As an example, the Group’s Commercial Acquiring activities, which, in the context of payments made by card on POS or online, consist in receiving and transmitting the payment order to the cardholder’s bank and to pay the merchant constitute the provision of an acquiring services. Similarly, the Group’s processing and execution of debit or credit card payment orders constitutes the provision of services for the execution of payment transactions through payment cards. Conducting regulated payment services in a European Union member state requires prior approval from the relevant national regulatory authority as either a licensed credit institution authorized to provide payment services, a licensed payment institution or as an issuer of electronic money. Licensed institutions are allowed to operate in their Home member state in which they are licensed as well as in any other Host member state in which they are authorized to operate either pursuant to the European principal of free services provisioning, or through freedom of establishment via a branch located in the host member state or through a Third Party agent. In order to be able to carry out its regulated activities, Worldline NV/SA, a subsidiary of the Group located in Belgium, possesses a payment institution license in Belgium, which allows it to carry out the services described above. In accordance with the European Regulations described above, payment institutions that are licensed in one European Union member state are allowed to establish themselves or provide payment services in any other European Union member state without having to obtain a license from that state, either pursuant to the European principal “European passport”. Worldline NV/SA’s license in Belgium has been “passported” to Austria, the Czech Republic, Germany, Spain, France, the United Kingdom, Italy, Luxembourg, the Netherlands, Norway, Poland, Slovakia, Bulgaria, Croatia, Denmark, Estonia, Finland, Iceland, Lithuania, Malta, Romania, Slovenia, Greece, Ireland, Latvia, Portugal, Sweden, Cyprus and Hungary. Worldline NV/SA has also a subsidiary in the Czech Republic and a branch in Slovakia.
payment transactions. 6. Money remittance.
7. Payment initiation services. 8. Account information services.
1 Worldline NV/SA a obtenu la licence pour les Services d’Information sur les Comptes (SIC) et les Services d’Initiation de Paiement (SIP) mais laSociété n’a pas encore commencé à déployer ces services à ce stade.
Universal Registration Document 2019
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