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Fintech Market Overview

This article does not constitute legal advice.

Payment services in Austria

Fintech Software

Payment services are regulated under the Payment Services Act, implementing PSD II. Certain services, such as issuing payment instruments or providing money transfers, are regulated and require a payment services licence.1

Exemptions as outlined in PSD II also apply in Austria. The most important exemption relates to the provision of payment services in a limited network. This means, for example, where a payment instrument is only accepted by very few vendors for a specific product (e.g., gas payment cards issued by gas station operators for payment of gas only) or by one vendor for a limited number of products or services or in a limited number of places (e.g., its stores), the issuance of such instruments will not necessarily trigger licensing requirements.1

Cryptocurrencies in Austria

Fintech in Austria

Fintech in other countries

Let's introduce you

Austrian Fintech Lawyers

Silvia Calls

Silvia Calls

We work for international SMEs, startups and Telco's

Kristina Berkes

Kristina Berkes

Participation as a lawyer at investment venture funds, leading venture M&A deals in IT, supporting iGaming and business assets

Denis Polyakov

Denis Polyakov

Comprehensive legal services for businesses on corporate, tax law, cryptocurrency legislation, investment activities

Notes
  1. https://thelawreviews.co.uk/title/the-financial-technology-law-review/austria
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