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The Government Council of the Bulgarian National Bank (BNB) issued an e-payment license in the name of Easy Payment Services Ltd. According to definition in Payment Services and Systems Act, electronic money is electronically, including magnetically, stored monetary value as represented by a claim on the issuer which is issued on receipt of funds and which is accepted by a natural person or legal entity other than the electronic money issuer.
By obtaining the new license, Easy Payment Services Ltd. has become one of the five such institutions licensed by the BNB. The new license secures regulatory grounds allowing the company to fulfil a wider range of payment services ideas, compared to the previous payment license. The company will be able to issue prepaid cards and offer all other payment services regulated by Payment Services and Systems Act and PSD2. BNB’s Governing Council took the decision after the company duly fulfilled all conditions for the issuance of such license set out in the PaymentServices and Systems Act and Ordinance No. 16 of the BNB of 29 March 2018 on Licensing of Payment Institutions, Electronic Money Institutions and Payment System Operators.
Easy Payment Services Ltd. is part of Management Financial Group, a leading Bulgarian financial holding operating in the filed of non-banking consumer credits in Bulgaria and the development of fintech products. Apart from Bulgaria, the company also develops dynamically in Central and Eastern European markets, including Romania, Poland, Macedonia, Ukraine, and Estonia.