In recent years, both regulation of and product development with respect to payment services and e-money have developed rapidly. This field has changed from being an obscure part of banks' back-office operations and the financial infrastructure to being a crucially important and business-critical offering - and the most important focal point in fintech.

Throughout this development Plesner has advised, and is still advising, all the principal market participants from startups, over established financial institutions, to Big Tech undertakings. Plesner is widely recognised as the leading law firm when it comes to providing advice on payment services/e-money and other innovative payment solutions. This is due not only to our leading specialist knowledge with respect to the regulation of payment services and e-money, but in particular to the interaction with a number of Plesner's other market leading specialist teams - including Marketing Law and Consumer Law, Data Protection Law, Technology and Outsourcing, Anti-Money Laundering and Tax Law.

Our advice with respect to payment services and e-money includes:

• analysis of innovative products and business models as well as advice as to whether and how they are regulated
• preparation, application and obtaining a licence as a payment institution or an e-money institution
• compliance with payment services regulation, including requirements for strong customer authentication
• handling of the regulatory aspects of activities across borders, including international expansion
• regulatory aspects of M&A transactions with respect to payment institutions or e-money institutions, including approval of owner and fit and proper approval of new management