France gives e-money issuers the EU’s second-largest payments market and a regulator that commits to response times at each stage, with a simplified route for smaller issuers.
Selected engagements from more than 250 licences obtained since 2013, for payment, e-money, cryptoasset and consumer credit firms.
Volkswagen
Payment InstitutionObtained Nexpay’s FCA Authorised Payment Institution licence.
Electronic Money InstitutionObtained Dzing Finance’s FCA Authorised Electronic Money Institution licence.
Obtained Orbital’s FCA Authorised Payment Institution licence.
Our realistic timeline from submission, set against the regulator’s own published figures.
Safeguarding, operating and settlement accounts opened alongside the application, so you trade on authorisation.
Candidates introduced for two managing directors based in France, each assessed against the regulator’s standard.
A reply within three business hours and a written proposal the same day: the licence, the requirements, the cost and the timing.
You will need at least two managing directors running the business from France, with the key control roles held by your own staff rather than outsourced.
One engagement and one timetable, from scoping to launch. Speak to an expert about the people, the banking and the technology for this licence.
The regulator’s requirements, capital, timing, fees and the questions firms ask, from the regulator’s own publications.
A business issuing stored value in France or, through passporting, across the EU and EEA needs ACPR authorisation. France is the EU’s second-largest payments market and the ACPR publishes its procedure, its points of attention and stage-level service commitments. An EMI may provide every payment service under the same authorisation.
| Requirement | Amount |
|---|---|
| Initial capital | €350,000 |
| Ongoing own funds (Method D) | 2% of average outstanding e-money |
| Simplified authorisation | €100,000; average monthly outstanding e-money not above €5 million |
Institutions below €5 million of outstanding e-money file a reduced set of prudential returns.
| Figure | Value | Source |
|---|---|---|
| Statutory decision period | 3 months from a complete file; silence is refusal | Monetary and Financial Code |
| Regulator’s published figure | Presentation meeting within 2 weeks; clarification requests within 3 weeks of filing; replies within 2 weeks; decision posted within 2 business days | ACPR Fintech Charter |
| Application preparation | 6 to 8 weeks | From instruction to submission, including banking in parallel |
| Our realistic timeline | 6 to 8 months after submission | The firm’s own figure, from the regulator’s published data and its own applications |
Figures published by the regulator are quoted as published and converted to months. The realistic timeline is the firm’s own, for a complete, well-prepared application.
| Item | Amount | Notes |
|---|---|---|
| Application fee | None | Passport notifications are also free |
| Annual supervision contribution | Set under the monetary and financial code | Amount by institution type |
| Initial capital | €350,000 | €100,000 under the simplified regime |
| Professional fees | Fixed, in writing | Quoted after scoping |
An issuer whose average monthly outstanding e-money stays below €5 million, with units limited to €250, may apply for the simplified authorisation: €100,000 capital and adapted own funds and internal control, with no European passport.
A French EMI passports throughout the EU and EEA by branch, agent or distributor, or cross-border services, on notification through the ACPR portal after authorisation. The simplified regime carries no passport.
The ACPR publishes its points of attention.
An EMI needs a safeguarding account that satisfies the regulator’s requirements, an operating account and settlement accounts in the currencies it serves. The firm arranges each through institutions that serve regulated firms in France and across the EU, during the application, so the firm trades on authorisation. See banking and payment processing.
Three months from a complete file by statute, with silence treated as refusal. The ACPR commits to a presentation meeting within two weeks, clarification requests within three weeks of filing and replies within two weeks. The firm plans for six to eight months after submission.
No. Passport notifications are also free. An annual supervision contribution applies once authorised.
Segregation of customer funds on a dedicated demand account with a credit institution, the French safeguarding method; an insurance contract or comparable guarantee is the alternative.
At least two effective managers exercising management from France, with the central administration in the same territory as the registered office.
An authorisation for issuers below €5 million of average monthly outstanding e-money with €100,000 capital and no passport.
A regulatory advisory firm to payment, e-money and cryptoasset companies since 2013, with more than 250 licences obtained in more than 60 countries. The firm advises on authorisation, compliance, safeguarding, banking and transactions, and builds the white-label payment and card technology its clients launch on.
A written proposal on cost, timing and requirements, the same day: speak to an expert.
This guide is general information for firms considering authorisation and is reviewed against the regulator’s published requirements. It is not legal advice; requirements and fees change, and the regulator’s current publications take precedence.
The requirements, the cost and the timing for your business, in a written proposal the same day.