RS2 has secured an Electronic Money Institution (EMI) licence from the German Federal Financial Supervisory Authority (BaFIN), enabling the firm to provide a wider range of payment acceptance methods for its merchant clients.
The provider of global omnichannel payment software and processing solutions customer base includes international card schemes such as Mastercard, Visa, American Express, Union Pay and Discovery.
Additionally, the company will be able to offer the use of 200 alternative payment methods via the Google Pay, Samsung Pay and Apple Pay e-wallets, as well as crypto services.
“The EMI license will enable our customers to access a variety of services related to payments and financial instruments, combined with a wide range of tools, enabling them to run their businesses more efficiently, whilst also having real-time access to financial data, reporting, reconciliation and invoicing,” said Radi El Haj, CEO, RS2.
“Managing both issuing and acquiring on the same platform, RS2 Financial Services is dedicated to creating a unique customer experience for both merchants and consumers by providing tailor-made services that allow transactions and shopping within a trusted business environment.”
The EMI licence will also allow RS2 be to provide financial service support to merchants and consumers throughout Europe, as well as offering the processing of cross-border payments for global payments.
An example of this is the issuing of products such as funding, purchasing, prepaid, loyalty and gift cards to its merchant customers, whilst consumers will also be offered mobile wallets, loyalty programmes and physical and virtual cards.
In addition to Europe, RS2 also operates in North America, Latin America, the Asia Pacific region and the Middle East, covering a range of industries such as travel, hospitality, retail, gaming, FX, and health care.
The group’s status in Latin America was boosted last year via an agreement with MOViiRED in Colombia, launching its direct acquiring service to cover e-commerce, MOTO and point of sale transactions as part of its wider omnichannel service.