DIMOCO PSP awarded License under the Payment Service Act
Vienna – 11 December 2017 – The Austrian Financial Market Authority (FMA) granted a license under the Payment Service Act to DIMOCO Payment Services. The awarded license allows DIMOCO Payment Services to contribute to the payment value chain, offering merchants a single technical interface and a unified clearing & settlement process for many payment methods, including credit cards, online bank transfers and SEPA direct debit.
“We differ from most PSPs in the global payments ecosystem with our personal touch,” said Boris Kersten, Managing Director of DIMOCO Payment Services. “We proactively and personally monitor the overall payment process. In addition to monitoring individual transactions, we make recommendations and take actions to decrease chargebacks and fraudulent transactions. This process is not simply left to algorithms, the human element is added to the mix resulting in the protection of merchant revenues.”
The license application procedure was successfully accompanied by a team of specialists from the Austrian law firm PFR, located in Vienna, guided by its practice head of banking, finance & capital markets, Dr. Bernd Fletzberger.
The new license will be passported to all EU and EAA member countries.
DIMOCO Payment Services is a Payment Service Provider (PSP) processing global payments, including credit cards, online bank transfers and SEPA direct debit, for online merchants, offering a combination of payment methods, tailored industry-specific solutions, transaction risk management tools and flexible value added services.
Information on license: DIMOCO Payment Services is a financial institution and has been granted a ZaDiG License under Point 7 of the Annex to EU Payment Service Directive (2007/64/EC)