FINREG PARTNERS advised Trisbee on the re-licensing process in connection with the amendment of the new law on payment transactions following the implementation of PSD2.
According to the transitional provisions of the new Act on Payments, any small-scale payment service provider (“SPI”) or small-scale electronic money issuer (“SEMI”) registered under the previous Act was entitled to continue its activities for a transitional period until 13 January 2019. Such a provider was not obliged to apply to the CNB for new authorisation under the new Act, provided that it could demonstrate to the CNB that it continued to meet the authorisation conditions within the context of the new Act on Payments. This obligation had to be fulfilled by 13 October 2018 at the latest.
FINREG PARTNERS assisted Trisbee in this process by providing comprehensive advice on preparing and demonstrating the implementation of a proper safety and operational risk management system, a system for handling complaints and claims, incident reporting, and ensuring compliance with other prerequisites required by the new law
The Trisbee app, which is well-known in the Czech fintech industry, allows users to make mobile payments easily, even if the merchant does not have a payment terminal.
