Payment licence
To obtain a payment licence, a crowdfunding platform needs to comply with the relevant laws and regulations in the region it wishes to operate in. Operating globally only complicates this, with various licence types and processes. In some jurisdictions, the process can take as little as a few weeks, while in others it can take several months, up to a year or even more.
Payment service provider
The other option outside applying for multiple Payment Licenses required to operate globally, is working with a regulated payment service provider (PSP) such as Currencycloud with a platform that is regulated in the Eurozone and multiple other jurisdictions. This helps our customers avoid the multiple rigorous processes needed for the former approach.
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