August 19 (SeeNews) - The Bulgarian National Bank (BNB) has refused to grant a licence to Europay Solution to operate as a payment institution as the company failed to comply with some of the requirements.
Europay Solution failed to demonstrate strict rules for control, security measures as well as its business plan failed to show the exploitation of adequate system resources and procedures for operating with payment services, BNB said in a statement late on Thursday.
Europay Solution is in the process of incorporation. No information about its founders and/or owners was immediately available.