BaFin Grants E-money License to RS2

Fazzaco learned that ​RS2 Financial Services GmbH, a subsidiary of global payments processing and technology provider RS2, has been granted an E-Money Institution (EMI) license by the German regulator, the German Federal Financial Supervisory Authority (BaFin​).

​The e-money license will allow RS2 to offer a wide range of payment acceptance and other financial services to merchants and consumers across Europe, as well as to process cross-border merchant payments globally.

RS2 will provide its merchants with a wide range of acceptance payment methods including but not limited to all major international card schemes such as Mastercard, Visa, American Express, China UnionPay, and Discover as well as over 200 alternative payment methods and different wallet platforms (Google Pay, Samsung Pay, and Apple Pay) and crypto services.

RS2 merchants will also have access to issuing products such as funding cards, purchasing cards, prepaid cards, loyalty, and gift cards. On the consumer side, a wide range of services will be also offered such as mobile wallets, cards (physical and virtual), and loyalty programs.

The above services will be launched during the second half of 2021.

"The EMI license will enable our customers to access a variety of services related to payments, financial instruments, combined with a wide range of tools, enabling them to run their business more efficient while also having real-time access to financial data, reporting, reconciliation and invoicing. Managing both issuing and acquiring on the same platform, RS2 Financial Services is creating a unique customer experience for both merchant and consumer by providing tailor-made services, allowing them to transact and shop within a trusted business environment," explains Radi El Haj, CEO, RS2.