E-money institution (EMI) Definition.

EMI: an institution licensed (by the ACPR in France) to issue e-money, meaning stored value held on a device or in an account and redeemable at any time (balance-based wallets, prepaid cards). The regime, which dates from the 2009 Second E-Money Directive (EMD2), is set to merge with the payment institution regime under the PSD3 package. Funds collected must be safeguarded.

See also

→ Payment institution (PI)→ Safeguarding→ ACPR

Where this term appears

GuideThe role of banksGuideMerchant, acquirer, PSPGuideFrench fintech: an overviewGuideAgents, distributors, and banking-as-a-service: who is liable for whatGuidePayments in the BalkansGuidePayments in the Baltics and FinlandGuidePayments in the Netherlands and BelgiumGuideProtecting customer funds, and what happens when the institution failsGuidePayments in FranceGuidePayments in Greece, Cyprus, and MaltaGuidePayments in IrelandGuidePayments in Italy

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