License to operate as an electronic money institution
People who intend to issue electronic money and carry out payment services and to receive means of payment from customers for use in the execution of such services, must apply for a license to do so. Electronic money can be issued with certain types of licenses, and the electronic money institution license is one of these.
Financial Supervisory Authority of Norway - Electronic money institution license (in Norwegian only)
About this form
Anyone intending to issue electronic money and carry out payment services and to receive means of payment from customers for use in the execution of such services.
To apply for a license to operate as an electronic institution, an application must be submitted that includes relevant information in accordance with laws and regulations. Section 3-1, subsection 3 of the Financial Institutions Act stipulates the information that must be enclosed with an application.
Electronic money means electronically stored monetary value as represented by a claim on the issuer which is issued on receipt of funds used for the purposes of making payment transactions and that is accepted as a means of payment by institutions other than the issuer.
People responsible for the management or operation of the institution must be of good character and have the necessary qualifications and professional experience to execute the position or office.
Financial Supervisory Authority of Norway - Rules for payment institutions
Fee
A fee of NOK 30,000 is charged for an application for a license to operate as an electronic money institution.
