
A money service operator (MSO) is a type of money services business (MSB) that is licensed and regulated by a government agency to provide financial services such as currency exchange, money orders, wire transfers, and check cashing. The term “MSO”…

An Electronic Money Institution (EMI) is a financial institution that is authorized to issue electronic money (also known as e-money) and provide payment services. E-money is a digital representation of monetary value that is issued on behalf of a natural…

What is a Payment Institution? A payment institution (PI) is a type of financial institution that provides payment services in the European Union (EU) and the European Economic Area (EEA). Payment institutions are regulated at the EU or national level,…