In France, there are several legal structures that allow institutions to hold other people’s money; all are authorized and regulated by the Prudential Supervision and Resolution Authority (ACPR), which operates under the auspices of the Bank of France.<\/p>\n\n
The difference between a bank and a payment institution lies primarily in the fact that each is authorized to make money from the funds entrusted to it. A bank, or credit institution, accepts deposits, grants loans, and processes payments. A payment institution processes payments and maintains payment accounts, without lending out the funds entrusted to it.<\/p>\n\n
An electronic money institution offers the same services and can also issue electronic money-such as that used in prepaid cards or online wallets.<\/p>\n\n
In addition to these three types of entities, agents and distributors act on behalf of an authorized institution. Many consumer apps operate this way: the brand belongs to the app, while liability rests with the partner institution.<\/p>\n\n
The difference between a bank and a payment institution lies in how the money entrusted to them is used. A bank lends it out, which is why a guarantee fund covers deposits up to 100,000 euros per customer per bank. A payment institution or electronic money institution does not lend it out: it must segregate it-that is, hold it in dedicated accounts separate from its own.<\/p>\n\n
In the event of the institution’s failure, these funds are not part of its assets. They are returned to customers without being subject to distribution among creditors.<\/p>\n\n
The legal notices of a licensed institution indicate its status and license number. The official registry of financial intermediaries (REGAFI<\/a>), which is available online and free of charge, allows you to verify this information, and the blacklists published by the ACPR and the Autorit\u00e9 des march\u00e9s financiers identify unauthorized entities.<\/p>\n\n CentralPay, for example, is an electronic money institution<\/a> authorized by the ACPR under license number CIB 17138, which can be verified in the registry.<\/p>\n\n A company can first ask its service provider whether it is itself a licensed institution or an agent of another institution, where its clients\u2019 funds are held, and how long it takes for those funds to be paid to the company.<\/p>\n\n She can also verify that it is PCI DSS-certified-the data security standard for credit cards-and that its activities fall within the scope of its terms of use.<\/p>\n\n It is protected in a different way, and that is where the difference between a bank and a payment institution matters most for your funds. A bank lends out its depositors\u2019 money, which is why a deposit insurance fund covers these deposits, up to 100,000 euros per customer per bank. A payment institution or electronic money institution does not lend out its customers\u2019 money. It must segregate it: keep it in dedicated accounts, separate from its own.<\/p>\n\n La r\u00e9glementation europ\u00e9enne a cr\u00e9\u00e9 ces statuts pour ouvrir les services de paiement \u00e0 d’autres acteurs que les banques. Beaucoup d’\u00e9tablissements se sont construits autour de besoins pr\u00e9cis des entreprises\u202f: encaisser pour le compte de tiers, g\u00e9rer des acomptes et des soldes, verser \u00e0 plusieurs b\u00e9n\u00e9ficiaires ou rapprocher automatiquement un paiement de la commande qu’il r\u00e8gle.<\/p>\n\n Some have specialized by industry, because a debt collection agency<\/a>, a reservation center, and a dealership network handle payments differently.<\/p>\n\n For a company, the first question is always who keeps the money; the second is whether that partner understands the challenges of the business.<\/p>\n\n CentralPay is an electronic money institution authorized by the ACPR (CIB 17138), with offices in Tours and Paris.<\/p>\n\n Its payment platform is designed for industries where payment collection falls outside the standard framework: debt collection agencies, travel booking platforms, distribution networks, and marketplaces. It supports down payments and final balances, third-party funds<\/a>, payments to multiple recipients, and automatic payment reconciliation.<\/p>\n\n More than 200 companies entrust their collections to it, with more than 2.5 billion euros in payments processed.<\/p>\n\nAs a business, what questions should you ask your payment service provider?<\/h2>\n\n
Is a payment institution less secure than a bank?<\/h2>\n\n
Pourquoi les \u00e9tablissements de paiement se sp\u00e9cialisent-ils ?<\/h2>\n\n
About CentralPay<\/h2>\n\n