Fees
Currence issues licences to banks and certificates to players such as transaction processors, terminal suppliers, data communications providers, banks and other service providers.
A licence is a permit to use a payment product brand and to engage in the related payment product activities, either directly or indirectly. A certificate is a permit to engage in specific product-related activities. Licensees (banks) are responsible for all activities in their domain. Licensees are free to contract Certificate Holders for certain activities. Both Licensees and Certificate Holders are licensed by Currence.
Fee structure for Licensees
Currence applies the following fee structure:
1. Fixed, single joining fee for each Licensee. The amount of this fee is set so as not to form a barrier to any players (especially smaller players). The joining fee is for the licence to use the accrued brand value.
2. Fixed annual fee. Currence performs various duties on behalf of each Licensee regardless of transaction volume, covering the provision of:
- Information on products and changes in the Rules & Regulations.
- Periodical updates of the Rules & Regulations.
- Market information.
- Stakeholder consultation.
3. A predetermined, volume-related fee, which is the same for each Licensee. This fee covers the costs associated with the following activities:
- Developing the Rules & Regulations. These form a crucial instrument for facilitating market transparency and a competitive market without this being at the expense of the efficiency and security of the payment system.
- Issuing licences and certificates.
- Monitoring compliance with the rules.
- Brand management, in order to maintain and enhance market value, including such activities as promoting the use of the products (public information and brand promotion) and efforts to combat fraud.
Click here for the fee structures for PIN and Chipknip
Click here for the fee structures for Acceptgiro and Incasso
Click here for the fee structures for iDEAL