Verotel, a Netherlands-based internet payment services provider, has been awarded a license as Payment Institute under the Payment Services Directive (PSD).
The newly granted license provides Verotel a payment institute certificate issued by the Dutch Central Bank. The PSD license is an EU regulation aimed to aid the industry in making payments across Europe more transparent and efficient. The license is only provided to payment companies that comply with a wide set of rules and obligations that ensure quality and stability of the payment sector.
Verotel provides billing services which have been implemented for over 50,000 websites worldwide, allowing merchants to accept online payments via credit and debit cards, checks, direct debit or 1-900 billing.