{"id":20822,"date":"2018-11-12T16:14:14","date_gmt":"2018-11-12T15:14:14","guid":{"rendered":"https:\/\/test.watsonlaw.nl\/expertises\/fintech\/crypto\/services-2\/"},"modified":"2026-08-04T12:32:15","modified_gmt":"2026-08-04T10:32:15","slug":"qualification","status":"publish","type":"page","link":"https:\/\/watsonlaw.nl\/en\/fintech\/payments\/qualification\/","title":{"rendered":"Qualification of services"},"content":{"rendered":"

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”grid” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” padding_top=”30″ padding_bottom=”20″ z_index=””][vc_column width=”1\/4″][vc_column_text]<\/p>\n

New technologies demand new insights.<\/p>\n

[\/vc_column_text][vc_empty_space height=”30px”][vc_widget_sidebar sidebar_id=”Sidebar Fintech” el_class=”sidebar-menu-unified”][vc_empty_space height=”30px”][\/vc_column][vc_column width=”3\/4″][vc_column_text css=””]<\/p>\n

Here’s our point of view: <\/span>
\nWe can help you prepare for what the future holds for your business.<\/span><\/span><\/h2>\n

 <\/p>\n

Businesses active in the payments and stored-value space often need to assess whether their activities qualify as regulated payment services or as the issuance of electronic money. That assessment is not always straightforward. A business model may involve payment flows without itself providing a payment service, may involve stored value without qualifying as electronic money, or may fall within a statutory exclusion, exception or exemption. Especially in innovative or hybrid models, qualification is usually the starting point for the legal analysis.<\/p>\n

 <\/p>\n

Among other things, Watsonlaw advises clients on the qualification of payment services, the definition of e-money, the distinction between payment services and e-money issuance, the relevance of limited network and technical-service exclusions, and the interaction with adjacent frameworks such as MiCA.<\/p>\n

[\/vc_column_text][vc_empty_space height=”80px” el_class=”emptyHidden”][vc_column_text css=””]<\/p>\n

Legal qualification of payment services.<\/span><\/h2>\n

[\/vc_column_text][vc_empty_space height=”20px” el_class=”emptyHidden”][vc_separator type=”normal” color=”#00c6da” thickness=”1″ up=”10″ down=”10″]

\n\t

\n\n\t \n Which payment services are regulated? <\/span>\n<\/span>\n\n \n <\/span>\n <\/span>\n <\/span>\n<\/span>\n<\/h4>\n
\n
\n [vc_column_text css=””]The regulation of payment services is governed by the Payment Services Directive (PSD2) and its implementation in the Dutch Financial Supervision Act (Wet op het financieel toezicht, Wft<\/em>).<\/p>\n

 <\/p>\n

Under PSD2, payment services are the regulated services listed in Annex I of the directive. This annex consists of eight different payment services. The various payment services recognized under PSD2 are the following:<\/p>\n

 <\/p>\n