Payment service provider
Internal payment systems are often used within educational institutions, with which print/copy transactions or payments at hot drinks machines can be settled. This usually concerns an (internal) database containing credits that are linked to a user (pupil/student/employee).
From February 2019, legislation applies to the suppliers of these systems. As a result, it is no longer permitted for companies/institutions to facilitate a closed payment system with electronic money without a permit (permission or exemption) from De Nederlandsche Bank (DNB). A so-called payment service provider is a company that achieves its turnover from providing payment services. Xafax Netherlands is included in the public register of payment service providers by the DNB.