2Checkout Granted PSD2 Payment Institution License by Dutch National Bank

Normal 2checkout product image

2Checkout, the leading all-in-one monetization platform for global businesses, today announced that the Dutch National Bank has granted the company a PSD2 Payment Institution License, intended to enhance consumer protection, promote innovation, and improve the security of payment services within the European Economic Area (EEA).

“This license is a continuation of 2Checkout’s commitment to providing our merchants and their customers with safe, secure, and convenient cross-border and domestic payment options as an integral part of our eCommerce monetization platform,” said Alex Hart, Chief Executive Officer at 2Checkout. “It is a logical step in our drive to enable our merchants to maximize the value of every digital buyer and subscriber worldwide.”

The 2Checkout monetization platform features advanced eCommerce, subscription management, compliance, tax management, foreign exchange, and payment capabilities that
merchants use to serve consumers and businesses worldwide. The recent launch of 2Checkout’s payment service provider (PSP) offering combines with its traditional merchant of record (MOR) capabilities to provide unmatched flexibility and value.

“An increasing number of merchants are deciding to use 2Checkout’s PSP capabilities for payment services in their home countries, much as they could with Adyen, Braintree, or Stripe,” said Hart, “but they are also able to use our consolidated platform to essentially outsource the entire eCommerce process and quickly reach customers in 200 other countries and territories.”

The ability to use either model, or a combination of models, on a single platform, and to vary their use by region, country, industry, or product, is unique in the industry. The Payment Institution license, which will be “passported” throughout the EU in the near term, provides additional flexibility for European merchants.

“2Checkout’s Payment Institution license, conferred by the Dutch National Bank, is a testament of our commitment to offering superior digital commerce services across the globe. Licenses

are only granted after strict regulatory requirements and exceptional compliance standards are met,” stated Eugen Marinescu, Director, Legal Compliance at 2Checkout. “We will continue to invest the time and resources necessary to meet the highest levels of regulatory compliance in the industry, including the revised Payment Services Directive (PSD2), the General Data Protection Regulation (GDPR), and the Payment Card Industry (PCI) standard.”

For more information, visit http://www.2checkout.com.

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