Payment Services and E-money Business
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The Licence under ZAG

The ZAG contains two licences, in particular the licence for conducting payment services (section 8 subsection 1 ZAG) and the licence for conducting the e-money business (section 8a subsection 1 ZAG).

In cases where a licence is required, many documents have to be submitted to the BaFin to complete an application for a licence. After submission of all required documents, the BaFin decides about the application.