Create an aquiring bank

[hunterbidenx]

Is creating an aquiring bank in a cheap offshore jurisdiction doable? Caribbean, Africa, asia, etc

 

[Sols]

The easiest region to do it is in EU/EEA, where you can do it by getting a PI or EMI license and then applying for acquiring licenses.

All in all, you'll need a few million EUR to do it.

It's more complicated in other regions and may even require a full banking license.

 

[avalanche]

Is creating an aquiring bank in a cheap offshore jurisdiction doable? Caribbean, Africa, asia, etc

I'm curious about the cost of setting up in Carribbean too, for example Dominican Commonwealth

 

[Sols]

It's very hard to get a new acquiring license for an offshore bank. In Dominica, Visa and Mastercard would be looking for someone holding a commercial banking license, not an offshore/international banking license.

If you don't have millions to spend on licenses, software, and staff, getting your own acquiring license isn't really a realistic project anywhere in the world.

 

[SoNewToAllShit]

You better go with some sort of white label solution where you rent the platform and everything needed from a current licensed acquiring bank or payment provider.