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16 April 2014

Payment processing service provider that have their registered office outside the Netherlands are obliged to notify DNB of a number of facts and circumstances. payment processing service provider that exceed the limit for the number of cashless payment transactions a year also have a duty to obtain authorisation.

Notification of intention to DNB
Any entity having its registered office outside the Netherlands and intending to carry on the business of payment processing service provider

◾from a branch located in the Netherlands, or
◾by providing services to the Netherlands

on behalf of payment service providers that do not belong to the entity's own group must notify DNB using the notification form for settlement agents, stating which activities that come under the definition of payment processing services it intends to pursue, providing such data as may be specified by order in council. Once it has received a notice of receipt from DNB, the payment processing service provider may commence its business.

Annual notification to DNB of number of payment transactions
Any entity having its registered office outside the Netherlands and conducting the business of a payment processing service provider must notify DNB each year before 1 March of the number of cashless payment transactions conducted in the Netherlands in respect of which it has provided payment processing services in the previous calendar year on behalf of payment service providers that do not belong to entity's own group.
The number of cashless payment transactions conducted in the previous calender year, within the meaning of Section 3.0b of the Decree on market access of financial undertakings (Besluit markttoegang financiële ondernemingen Wft), is taken to mean the aggregate of:
1.all non-cash payment transactions initiated on Dutch soil in respect of which the payment processing service provide has provided services as referred to under a and/or b of the definition of payment processing services (Section 1:1 of the Financial Supervision Act (Wet op het financieel toezicht - Wft)), and
2.all non-cash payment transactions from or into the accounts of payment service providers having their registered office in the Netherlands for which the payment processing service provider has provided services as referred to under c of the definition of payment processing services (Section 1:1 of the Wft).

Double counts of transactions should be avoided in the statement of transactions: multiple payment processing services provided with respect to the same transaction need only be counted once.

Authorisation requirement where the limit for the number of payment transactions is exceeded
If it has exceeded the limit determined by order in council for the number of cashless payment transactions conducted in the previous calendar year, an entity
◾which has its registered outside the Netherlands and operates from a branch located in the Netherlands (exception: registered office in a designated state, see What are payment processing service provider?), or
◾which has its registered office in a non-designated state and provides services to the Netherlands is prohibited, without authorisation granted by DNB, from carrying on the business of payment processing service provider for a payment service provider which does not belong to the same group as the entity.

DNB's power to grant waiver for the period until authorisation
On request, DNB may waive the authorisation requirement for the period until it decides on the application for authorisation.

DNB's power to prohibit a firm from carrying on the business of settlement agent
DNB may prohibit a payment processing service provider without authorisation from conducting its business on behalf of payment service providers that do not belong to the entity's own group if the agent does not comply with the rules laid down by or pursuant to the Wft.