Wish Granted Payment Institution License for the EU
The license is a first step toward allowing Wish to process all EU payments on its platform
The new Payment Services License will enable Wish to process transactions and increase control over the payments value chain in a compliant manner, while also reducing reliance on third parties. In addition to
“The granting of this license is an exciting first step towards becoming a payments services provider in Europe,” said
The provision of payment services is subject to the European Payment Services Directive 2 (“PSD2”) as implemented in the European countries in which CLBV operates. In view of such implementation, CLBV applied for a license to act as a payment institution. As a payments institution, CLBV is now under the supervision of DNB and, as such, is required to comply with rules applicable to payment institutions.
About Wish:
Wish brings an affordable and entertaining shopping experience to millions of consumers around the world. Since our founding in
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This news release contains forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding Wish's outlook, priorities, strategic direction, expectations, and growth opportunities. In some cases, forward-looking statements can be identified by terms such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “guidance,” “intends,” “may,” “outlook,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” “would” or similar expressions and the negatives of those terms. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Further information on these and additional risks that could affect Wish’s results is included in its filings with the
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Source: Wish