French banking-as-a-service platform Treezor has secured the approval of French regulator ACPR to roll out a full spectrum of payment services in the country.
The firm has now all the payment service licences in the country.
These licences will enable the firm to provide cash deposits with a network, while supporting the execution of payment transactions carried out with a payment card or a similar system associated with a credit facility.
The firm will also be able to carry out transfers associated with a credit facility, fund transfers, payment initiation service and account information service.
Treezor is said to be the first French payment and electronic money institution with all the payment service licences.
The firm, which recently opened four new offices in Germany, Benelux, Italy, and Spain, is planning to bolster its workforce by more than 50%.
The new licences are expected to further drive the firm’s growth.
It will allow Treezor’s more than 100 clients to integrate new features into their own offering. These include deferred payment, aggregation of various external accounts, initiation of transfers or cash deposits.
The firm also plans to take advantage of its ‘large number’ of active cards to offer value-added services, such as buy-now-pay-later (BNPL).
Treezor CEO and co-founder Eric Lassus said: “This authorisation extension enables Treezor to strengthen its unique position in the payment industry and confirms our European ‘One-Stop Shop’ strategy for the most ambitious projects.
“We are proud to be the first French Electronic Money Institution to offer its customers a complete and unprecedented range of services. Having all the payment services authorisations regulated by the ACPR with the level of compliance and risk management requirements of Societe Generale group enables Treezor to have a solid and sustainable growth dynamic.”
In 2019, Treezor adopted Thales’ SafeNet Data Protection On Demand solution to secure its complete payment chain.