From Certified Payment Service Provider to Payment Institution

From Certified Payment Service Provider to Payment Institution

As you may know, TMC has been processing electronic payment transactions for its clients for many years as a certified payment service provider. Our main focus has been on processing transactions in the mobility sector, such as those made at parking meters, garages, and lots.

Increase in Transactions

Until recently, we operated under an exemption granted by De Nederlandsche Bank (DNB). Over the past few years, however, we have experienced a significant increase in the number of clients using our services. As a result, the transaction limit tied to this exemption came into view. At the end of 2021, TMC’s management and shareholders decided to apply for an official license from DNB to be formally recognized as a Payment Institution.

License Application

On May 25, 2022, we officially submitted our application to DNB. This process involved the submission of various documents and a thorough assessment of the suitability of our Board of Directors and Supervisory Board members.

License Approval

On July 12, we were delighted to receive confirmation from DNB that TMC had been granted a license to operate as a Payment Institution, effective immediately. This means we are now under the direct official supervision of DNB.

Future of FLUX

We can now process an unlimited number of transactions, paving the way for growth within our existing markets (parking meters and garages) and allowing us to explore new markets and pursue international expansion.

Interested?

FLUX Payment Service Provider is an ambitious division of TMC, driven by the goal of achieving substantial growth in the coming years.

Curious about how FLUX can benefit your organization? Serge de Heer is happy to tell you more!