2019-03-13

Harvest advises Payson AB on application for re-authorization according to PSD2

Harvest has advised Payson AB on its application for license (re-authorization) to operate as a payment institution. The authorization was granted by the Swedish Financial Supervisory Authority on February 22.

Following the implementation of the second payment service directive (PSD2) in Sweden on May 1 2018, the company was obliged to apply for re-authorization by October 31 2018, to continue its operations.

Payson AB launched its services in 2004 to offer businesses and individuals simple and secure payment solutions. The company has several million users, thousands of affiliated e-commerce companies and is part of Svea Ekonomi since 2012.

The Harvest team comprised advokat/partner Amin Bell and associate Eleonora Pavliouk.

Harvest has during the summer and fall of 2018 advised several payment institutions with applications for re-authorization at Finansinspektionen. All of them have now been granted new licenses by the Swedish Financial Supervisory Authority.