Modena Payments OÜ was granted the Payment Institution License

Ellex in Estonia advised Modena Payments OÜ on obtaining the payment initiation pa and account information service license from the Estonian Financial Supervision Authority.

The payment initiation service entitles Modena Payments OÜ to initiate a payment transaction at the request of the customer on a payment account that is not opened by the payment initiation service provider. The account information service license gives the right to provide an account information service. This is one of the first such licenses in Estonia.

The client was advised by Partner Marko Kairjak, Senior Associate Anneli Krunks and Lawyer Lotte Suislepp.