Act 2026
Bekendtgørelse af lov om betalinger, LBK nr. 463 af 24. april 2026 (Consolidated Payments Act)
Plain-English summary
Payment services and e-money issuance require a licence as a payment institution or e-money institution (§§ 2, 3, 8 and 9), unless the provider is a bank or similar body. E-money and payment institutions must safeguard users' funds (§ 35). Finanstilsynet's fintech page describes the Act as the Danish implementation of PSD2.
Who it applies to
Payments & Fintech
Topics
Payments & Fintech / Digital Assets
Obligations arising from this law or regulation
| Obligation | Timing | Regulator | Source | Detail |
|---|---|---|---|---|
| Payment institution and e-money institution licensing | — | — | source | |
§ 2 allows e-money to be issued only by licensed e-money institutions (§ 8), banks, Danmarks Nationalbank and public authorities. § 3 allows payment services only from licensed payment or e-money institutions (§§ 8-9), banks and similar bodies. § 10 sets licence conditions, including a Danish head office, minimum capital and fit-and-proper requirements. |
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| Safeguarding of customers' funds by payment and e-money institutions | — | — | source | |
§ 35 requires e-money institutions to safeguard funds received for issued e-money (within five business days when received via a payment instrument) and both institution types to safeguard funds received for payment transactions. § 35(6) allows a separate account at a credit institution or central bank, low-risk liquid assets in a separate securities account, or a guarantee from an unaffiliated insurer or credit institution. |
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| No obligations match these filters. | ||||
Latest news
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RBI penalizes Ola Financial Services for KYC compliance failures
25 Sep 2026
The Reserve Bank of India imposed a monetary penalty of ₹3.10 lakh on Ola Financial Services Private Limited for non-compliance with KYC directions under the Payment and Settlement Systems Act, 2007. Following a…