PayLane Becomes Gains SEPA Payment Institution Status

By PYMNTS | June 3, 2013

PayLane, an online payments provider in Europe, announced it has become a Payment Institution. PayLane’s new position means that it will be able to operate throughout the entire SEPA region. PayLane already operates across Europe, but will have greater opportunity for reach with the status of a Payment Institution.

Payment Institutions are able to make cash payments and accept deposits from payment accounts. They are also capable of conducting payment transactions, direct debit and credit transfers as well as distributing payment tools such as credit cards.