DIMOCO Payment Services has received an EU payment licence from the Austrian Financial Market Authority (FMA) under the Payment Service Act.

The licence offers passporting rights to all EU and EAA member countries and enables the firm to provide merchants a single technical interface.

Through the licence, the firm will also gain the capability to  offer merchants a single clearing and settlement process for multiple payment options such as credit cards, online bank transfers, SEPA and direct debit cards.

DIMOCO Payment Services managing director Boris Kersten said: “We proactively and personally monitor the overall payment process. In addition to monitoring individual transactions, we make recommendations and take actions to decrease chargebacks and fraudulent transactions.

“This process is not simply left to algorithms, the human element is added to the mix resulting in the protection of merchant revenues.”

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By GlobalData