Dutch Fintech Payaut Secures PSP License for European Expansion

​The Dutch startup Payaut, a fintech that provides the only payment solution for platforms connecting with any PSP, announced it has obtained the Payment Service Provider (PSP) license from Dutch central bank (DNB).

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The fintech notes that the PSP License opens its door to running businesses throughout the eurozone. And it selected Germany as the first country to roll out its products.

“Unlike in the Netherlands, PayPal is one of the largest payment methods for online marketplaces in Germany”, said Ernst van Niekerk, CEO of Payaut. “That makes Germany an important market for us. Not only are there more players, they are also much bigger than in the Netherlands, and we can offer them something they have been waiting for.”

Moreover, the company is also focusing on a multicurrency solution for non-euro countries, to process other currencies and pay marketplaces and sellers in their currency.