Tag financial institution

Sponsoring License Holder

A sponsoring license holder, also known as a sponsoring entity, is a financial institution or other organization that holds a license or approval from a regulatory agency to provide certain financial products or services. The sponsoring license holder is responsible…

Sponsor License Agreement

A sponsor license agreement is a legally binding agreement between a financial institution or other organization (the sponsor) and a regulatory agency, such as a central bank or other financial regulator. It sets out the terms and conditions under which…

Sponsor

In the banking, payments, and licensing industry, a sponsor may refer to a financial institution or other organization that helps facilitate the process of obtaining licenses or approvals for financial products or services. This can include helping to prepare and…

Money Service Operator (MSO)

Faisal Khan LLC - Money Service Operator (MSO).

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”…

Electronic Money Distributor (EMD)

Faisal Khan LLC - Electronic Money Distributor (EMD)

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…

Payment Institution (PI)

Faisal Khan LLC - Payment Institution (PI)

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,…