New association for payment service providers in the Netherlands

Single point of contact in the industry
Read this release in Dutch


UTRECHT, 20120605 -- Electronic payment transactions are evolving fast. The Association of Dutch Payment Service Providers (VBIN) has been set up to represent the industry and act as spokesperson in publicising its members’ principles and objectives. The new association also fulfils the wishes of stakeholders, such as the Dutch Banking Association (NVB) and De Nederlandsche Bank (DNB), for a single point of contact in the industry.

The VBIN will formally represent and promote the national and international interests of those payment institutions and electronic money institutions (EMIs) stipulated in the Act on Financial Supervision (Wft) and companies which provide payment services in the Netherlands in general.

The new association is open to all permit-holding payment institutions and electronic money institutions and to other parties which have registered with DNB/Netherlands Authority for the Financial Markets (AFM) but which have not yet been issued with permits.

Michel van Westen, association chair: “Over the next few months, the association will focus on its role as sector representative towards the government, government bodies, organisations with a public function and other parties. This will help boost the payment sector’s reputation and evolution.”

For more information: www.vbin.nl

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