Multipass is a financial services provider offering global business accounts, multi-currency payments, and cross-border transaction solutions.
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Digital Banking
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Luxembourg · EMI
Digital banking for e-money institutions authorised by the CSSF
Payconiq closed in Luxembourg on 30 September 2026 and the local banks now offer Wero. Customers are rethinking how they pay each other, which is a good moment to put your own e-money app in front of them, run from Luxembourg on a platform you configure.
- Apps localized to over 15 languages
- E-money accounts with IBANs and cards
- SEPA Instant and SWIFT transfers
- Back office for your Luxembourg management
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What a Luxembourg EMI can offer its customers
A multilingual e-money account
Sign-up, identity check, IBAN and card in one mobile flow. The apps are localized to more than 15 languages, so French, German and English speakers can each use their own, with terms you supply.
Instant euro payments
Customers send and receive SEPA Instant transfers, with push notifications for every payment in or out.
Cards with controls in the app
Cards issued through the API of a pre-integrated issuer, with limits and settings per card. The issuing contract is between you and the issuer.
Accounts for small companies
A separate onboarding questionnaire for companies, multi-currency accounts and batch supplier payments approved before release.
Fees shown before every payment
Price lists your team edits in the back office, applied automatically to each transaction.
What this licence does not cover
- Taking deposits or paying interest. Balances are e-money, held only to be redeemed or spent.
- Lending from the funds you received for e-money.
- Running the institution from abroad. The law asks for the central administration and registered office in Luxembourg, with at least part of the e-money business carried out there.
What the regulator asks about your IT
Each requirement, what the platform gives you for it and who owns it after launch.
A back office dashboard for the people who run the institution in Luxembourg, with client limits and customer verification handled there.
YouBalance and transaction reports per customer, which your finance team compares with the safeguarded account.
Your finance team, on platform dataDiagrams and descriptions of how money and data move between the app, the ledger, banks and card issuer.
You, with our inputTwo-factor login and payment confirmation in the mobile and web apps.
CrassulaOnboarding questionnaires, identity checks through connected providers and client limits. Transaction monitoring stays in your own tool.
Your compliance officer, with a connected providerHosting, security, incident handling, subcontractors and exit plan described for your ICT framework and register of information.
You, with our input
Payment rails and providers
Rails your customers can use
SEPA Credit TransferSEPA InstantSEPA Direct DebitSWIFTCard payments
24/7
real-time processing, no batch window
60+
payment and provider integrations connected
150+
companies run on Crassula
15+
languages the platform speaks
Dates to plan around
Rules that change what you have to build, in the order they apply.
9 Oct 2025
Luxembourg EMIs that offer euro credit transfers must let the payer check the payee's name against the IBAN.
30 Sep 2026
Payconiq stopped in Luxembourg. BIL, BGL BNP Paribas, Raiffeisen, POST and Spuerkeess customers moved to Wero.
31 Dec 2026
Old Payconiq QR codes on invoices and in shops can be scanned with Wero until the end of the year.
9 Apr 2027
Euro area EMIs must be able to send and receive SEPA Instant payments.
Around 2028
PSD3 and the Payment Services Regulation, agreed but not yet published in the Official Journal, are expected to apply.
Applying to the CSSF for an EMI authorisation? Name us in your file.
The CSSF usually starts with a meeting and asks for a business plan with fund and data flow diagrams and a list of your partners. The file then goes in electronically through its MFT system. We help you draw those flows from a platform that already runs them.
01
A platform you can demonstrate
A configured environment to show the regulator, not slides.
02
The technical part of your application, prepared
IT systems, security, customer authentication, outsourcing and DORA sections of the CSSF EMI application form.
03
Providers lined up
Banking, safeguarding and KYC providers from our network, matched to your licence.
Crassula provides technology and documentation support. We do not provide legal or regulatory advice and cannot guarantee the outcome of an application.
From the first CSSF meeting to launch
A team in Luxembourg City plans an e-money account for people who live in one country and work in another. Before the first CSSF meeting they map how a top-up reaches the safeguarded account, how a card payment is booked and which providers touch the data, using our environment to check each step.
During the assessment they write the terms in French, German and English and test SEPA Instant transfers from end to end. Once authorised, they launch at home and passport the service to neighbouring EEA countries.
More detail: our Luxembourg EMI and PI guide and EMI licensing in the EU.
Read the licence guides
FAQ
A one-off EUR 30,000 to examine a new EMI application. After that, an annual fee of EUR 30,000, or EUR 40,000 above EUR 1 billion of yearly transactions. For the first three years it is reduced to EUR 25,000 if volume stays under EUR 1 billion.
Three months from a complete application, and never more than 12 months from the date it was received. In practice the preparatory meetings and questions add time before the file is complete.
Either in a separate account at a credit institution, in secure low-risk assets, or covered by an insurance policy or guarantee from a firm outside your group. Since April 2025 the law also allows an account at a central bank, if that central bank agrees.
Funds paid in by card only need protection once they reach your payment account, and in any case no later than five business days after the e-money was issued.
Wero is run by EPI and offered through participating banks. Joining it is a matter between you and the scheme. Inside your own app, SEPA Instant already moves euros between accounts in seconds.
Yes. A branded environment can be ready in as little as 10 business days.
