The first step in entering the single market for payment services is whether you are issuing E-money or otherwise offering a Payment Service, or whether you benefit from one of the typical exclusions. We can advise on the EEA position generally, as well as under Irish law specifically, and co-ordinate local law advice from key target markets to check for local differences.
If you are a retailer, you should be aware of the need to register certain loyalty and gift card programmes that transact more than €1m in any 12 month period. Ireland also regulates certain gift vouchers.
E-commerce marketplaces have an opportunity to structure themselves in a way that either avoids the need for payments regulation, or creates competitive advantage by offering their own payment services to third party buyers and sellers.
If you wish to use Ireland as your ‘home’ country for offering your e-money or payment services around the EEA, you will need to ensure that you have a genuine presence in Ireland.