Simply return
to your third parties

Two types of flows are involved in the use of a CentralPay escrow account:

• In pay-in, the payment account accepts payment from all sales channels (online, in-store, email and SMS) and payment methods (credit card, bank transfer, SDD direct debit and payment initiation).
• In pay-out, the payment account enables you to programme the transfer of funds to the associated bank account.

Under the Directive on Payment Services 2 (PSD2), which regulates platforms operating on behalf of third parties, three options are possible:

• Be a registered Payment Institution with the ACPR: This accreditation allows you to manage your collections and transfers in total autonomy. However, it requires sufficient financial, human and technical resources to be and remain in line with the regulator’s requirements.
• Applying for an authorization exemption: There are exceptional grounds for obtaining an exemption from the ACPR, for example in the case of “limited range of products and services” or “limited network of acceptors”.
• Use a Payment Service Provider (PSP): Platforms can manage their transactions using the payment services of an Authorized Institution such as CentralPay. These Payment Service Provider Agents are supported by their Payment Institution on various subjects: compliance with the regulations governing Payment Services (regulation, reporting, AML/CTF, etc.), removal of technical barriers and validation of financial plans to collect and transfer their transactions.

Yes, payment wallets can be closed. In accordance with the GDPR regulations, CentralPay is obliged to keep the data relating to these accounts for a certain period of time, before destroying them.