New service providers take old regulatory status just before the new payment institutions act takes effect
Iivarinen, Timo (15.04.2009)
JulkaisusarjaBank of Finland. Financial Market Report
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-201408075047
The first Finnish service provider licensed as a payment institution as referred to in the existing Credit Institutions Act, has commenced operations. Authorities are also currently processing the authorisation of another player. New domestic players are important because, with the realisation of the Single Euro Payments Area (SEPA), traditional payment instruments will disappear.