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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 and cryptoasset 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 to decision.
Safeguarding, operating and settlement accounts opened alongside the application, so you trade on authorisation.
We assemble your team: two managing directors based in France.
The licence, the requirements, the cost and the timing for your business.
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 programme, from scoping to launch. Speak to an expert about this licence.
Requirements, capital, timing, fees and common questions, drawn 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 | Our own figure, from the regulator’s published data and our applications |
Regulator figures are quoted as published and converted to months. Our realistic timeline assumes 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 | 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, an operating account and settlement accounts in the currencies it serves. We open each alongside the application, so you trade from 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. We plan 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 builds licensed payment, e-money, crypto and stablecoin businesses: the licence, the team, the technology, the bank accounts and card issuing.
This guide is general information, not legal advice. Requirements and fees change, and the regulator’s own publications take precedence.
The licence, your team, banking and technology, delivered as one programme.