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ARTICLE · 05 JUNE 2023

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Electronic Money Institution Authorisations In Ireland

William Fry LLP
William Fry LLP
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William Fry LLP

William Fry LLP

William Fry advises leading Irish and international companies, covering both the public and private...

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Ireland's strong technology and financial services sectors make Ireland a natural choice for establishing an electronic money institution ("E-Money Institution")...

IrelandTechnology
Shane Kelleher
Shane Kelleher
Louise McNabola
Louise McNabola
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INTRODUCTION

  • Ireland's strong technology and financial services sectors make Ireland a natural choice for establishing an electronic money institution ("E-Money Institution") to service EU/EEA customers.
  • E-Money Institutions are regulated entities which are authorised to issue electronic money and provide payment services.
  • Authorisations from the Central Bank of Ireland (the "CBI") as an E-Money Institution are granted under the European Communities (Electronic Money) Regulations 2011 ("E-Money Regulations") which transposed the Second Electronic Money Directive into Irish law.
  • William Fry has acted for one-third of the E-Money Institutions which have been granted authorisation in Ireland to date on their applications for authorisation as an E-Money Institution.

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