Joint industry press release on AMLR regarding low-value gift cards

An industry association coalition of electronic money issuers, distributors, and retailers strongly calls on the European Parliament and the Council to keep the use of popular and everyday low-value, low risk e-money products such as e-money gift cards and vouchers and to abstain from introducing a mandatory customer identification for such products.

Joint industry Call to Action on CDD exemption

The EMA co-signed a Call to Action to safeguard the Customer Due Diligence exemption for low-risk, low-value e-money products in the upcoming AML Regulation. The letter encourages the European Parliament to take onboard the industry concerns and remove the limitation to „a single Member State“ as well as the reference to a “direct commercial agreement with a professional issuer” in the further legislative procedure.

Read the letter here