issuance of electronic money placing cash to a payment account withdrawing cash from a payment account execution of payment transactions on a payment account (not covered by a credit line) execution of payment transactions on a payment account (using a credit line) issuing payment instruments or acquiring payment transactions money remittance account information services payment initiation services
Buypass Payment AS is authorized by the Financial Supervisory Authority of Norway as a e-money institution for issuance of electronic money, distribution and redemption of electronic money, placing cash to a payment account, withdrawing cash from a payment account, execution of payment transactions on a payment account (not covered by a credit line), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions, money remittance; the authorization was granted on 1 January 2006.
Funds Safeguarding
Yes
Deposit Guarantee
No
Buypass Payment AS is not a bank, it can't collect deposits from public or loan out its clients’ money. Hence, it does not have to participate in deposit guarantee schemes. However, Buyps Payment is required to safeguard its customers’ money.
EEA Passport
Yes
Due to EEA passport rules Buypass Payment AS, can conduct its activities in any of the 30 EEA member states.
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