Business solution providers and European platforms can now integrate and distribute regulated payment services to their users, by relying on an approved institution such as CentralPay.
Solution
Unlike traditional e-commerce merchants, platforms operating third party payments are required to obtain Payment Service Provider Agent status in order to practice.
This obligation follows the entry into force of the Payment Services Directive 2 (PSD2), aimed at regulating the financial management of marketplaces, financial platforms or other business solutions that operate third party payments of their users.
To ensure the growth of their business, these professionals turn to institutions approved by the ACPR to support them in various areas:
Legal framework
Becoming a PSP Agent is necessary when your business requires :
The Agent is expressly authorized to participate in the onboarding of his merchants by having them sign his own GTCs, collect identification documents and even verify them. Its status enables it to collect third party funds, hold them as collateral for a given period, then transfer them once the service or product has been delivered.
This level of technical and commercial agility requires a file to be submitted to the ACPR (Banque de France).
Benefits
Discover the main benefits of becoming a Payment Service Provider Agent:
By complementing your offer with integrated payment services, you enhance the value of your platform or business solution, and benefit from a new source of revenue by marketing these services.
As a Payment Service Provider Agent, you can contract directly with your merchants, giving you full control over marketing, and in particular over the price scale you wish to apply.
Maintain funds in escrow on behalf of your merchants, and only release them once the service has been delivered. This ensures that both your customers and your merchants benefit from a smooth sale.
By complementing your offer with integrated payment services, you enhance the value of your platform or business solution, and benefit from a new source of revenue by marketing these services.
As a Payment Service Provider Agent, you can contract directly with your merchants, giving you full control over marketing, and in particular over the price scale you wish to apply.
Maintain funds in escrow on behalf of your merchants, and only release them once the service has been delivered. This ensures that both your customers and your merchants benefit from a smooth sale.
All you need to know about Payment Service Provider Agent status
The process of obtaining Agent status involves the examination of several points by the ACPR (Prudential Control and Resolution Authority):
The procedure for applying for PSP Agent status involves costs, which vary depending on the project:
Costs related to compliance requirements
There are several stages in obtaining this status:
Obtaining authorization as a Payment Service Provider Agent entails certain legal and financial responsibilities, which need to be taken into account. Under the supervision of the ACPR, Agents must ensure compliance with the regulatory framework in force, and follow the processing procedures established with the establishment. Failure to comply with the law may result in revocation of status or potential financial penalties.
Tell our sales teams about your project and your payment volumes.
We'll send you a feasibility analysis and an appropriate pricing proposal.
Our technicians will guide you through our API documentation to get your integration up and running quickly and smoothly.
CentralPay is an Electronic Money Institution authorized by the Banque de France through the French Prudential Supervision and Resolution Authority (CIB 17138).
