Northmill is happy to announce that the company has been approved as a Payment Service Provider.
On September 5th 2018, Northmill was granted the license by the Swedish FSA as management was deemed sufficiently experienced and knowledgeable to conduct payment transactions through direct debits, current accounts, cards or other instruments of payment.
“While fintech companies are disrupting the banking industry they are also challenged by regulations themselves. We are happy and proud of being one of the first Fintech companies being approved as a registered payment firm according to the new, and PSD2 compliant, Swedish Act on Payment Services.” - says Ninos Gawrieh, PSP project Manager and Security & Compliance Officer of Northmill.
This license is an important milestone in the development of the company’s upcoming product Rebilla, as the mobile financial hub includes a MasterCard that enables the user to spend, send and withdraw money from anywhere in the world.