Expanding into Europe

Europe is the single largest e-commerce region in the world, and there are huge benefits for payments and e-money providers who do business there. It offers a very attractive mix of markets, from steadily growing, mature environments (like Germany and the UK) to rapidly growing markets (like Spain) and emerging regions (like several of the countries in Eastern Europe).

A single licence gives an e-money institution access to the whole of the EU; organisations that achieve authorisation in one region are then free to extend their services to other countries via a ‘passport’ system. And EU Directives mean regulations in place across the EU don’t conflict with one another.

The UK, in particular, is an excellent launch pad from which to expand into the rest of Europe. It’s the world’s leading country for e-commerce, and within Europe, over 50% of e-money and payment institutions are authorised through the UK. There are also plenty of skilled and experienced personnel working in the sector, which has an excellent reputation for efficiency and innovation.

However - many payments organisations thinking of expanding into Europe don’t know where to start, particularly when it comes to complying with the different regulations that apply in different European countries.

Neopay specialises in delivering compliance solutions to payment and e-money institutions and related organisations. It navigates businesses through the process of achieving regulatory compliance and authorisation in the countries they are looking to expand into. Neopay also works to shape regulation and provide feedback to regulators, to improve the market for all involved. It undertakes business planning and development, risk management, passporting and other cross-border activities.

Neopay focuses on creating a bespoke and fully integrated compliance process for each client, which takes into account that company’s individual and specific priorities and structures. None of Neopay’s client applications have ever been rejected by the regulator, and the company has helped more e-money and payment institutions develop successful compliance frameworks and become authorised than any other specialist consultancy.