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.
Wish brings an affordable and entertaining shopping experience to millions of consumers around the world. Since our founding in
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