Fintech in San Marino

1. Introduction Fintech (financial technologies) represent the integration between finance and technology, revolutionizing banking, insurance and financial services. The adoption of digital solutions allows startups and traditional institutions to offer more accessible, fast and low-cost services. 2. Fintech Classification Fintechs are divided into different operating segments, including: Payment services: include the execution of transactions via bank…

Definitions (BCSM Regulation n. 2020-04) 1. Payment Instruments and Services Direct debits: a payment service for debiting a payer’s payment account where a payment transaction is initiated by the payee based on the consent given by the payer to the payee, the payee’s payment service provider, or the payer’s own payment service provider. Credit transfer: a payment service for crediting the payee’s payment account by means of a payment transaction or a ser…