{"id":5272,"date":"2010-06-01T14:38:27","date_gmt":"2010-06-01T12:38:27","guid":{"rendered":"https:\/\/www.fma.gv.at\/en\/?p=5272"},"modified":"2016-06-09T14:39:43","modified_gmt":"2016-06-09T12:39:43","slug":"worldclearing-holding-inc-paypay","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/worldclearing-holding-inc-paypay\/","title":{"rendered":"WorldClearing Holding Inc. (PayPay)"},"content":{"rendered":"

Pursuant to Article 4 para. 7 first sentence of the Bankwesengesetz (BWG; Banking Act) resp. Article 64 para. 9 first sentence of the Zahlungsdienstegesetz (ZaDiG, Payment Services Act), the Austrian Financial Market Authority (FMA) may disclose to the general public by publication on the Internet, in the official gazette “Amtsblatt zur Wiener Zeitung”, or in any other newspaper with nationwide circulation, that a particular natural or legal person (person) is not entitled to carry out certain banking transactions resp. payment services, provided that said person has given cause for such action and informing the general public is deemed necessary and reasonable with regard to possible disadvantages of the person concerned.<\/p>

By publication in the official gazette “Amtsblatt zur Wiener Zeitung” of 1 June 2010, the FMA informs, that<\/p>

WorldClearing Holding Inc. (PayPay)<\/strong>
\n50 California st ste 1500
\nSan Francisco, CA 94111
\nCalifornia, USA
\nFax: +1-925-974-3647
\nwww.paypay.com<\/a>
\nwww.worldclearing.com<\/a>
\ninfo(at)paypay.com<\/a><\/p>

is not authorised to carry out certain banking transactions or payment services requiring a licence in Austria. The commercial acceptance of funds from other parties for the purpose of administration or as deposits (deposit business) pursuant to Article 1 para. 1 no. 1 BWG is therefore not allowed, neither the provision of non-cash payment transactions, clearing services and current-account services for other parties (current account business) pursuant to Article 1 para. 1 no. 2 BWG nor the issuance of electronic money (e-money business) pursuant to Article 1 para. 1 no. 20 BWG or the commercial transaction of bank transfers including standing orders pursuant to Article 1 para. 2 no. 2 lit c ZaDiG.<\/p>\n","protected":false},"excerpt":{"rendered":"

The FMA warns investors against the conclusion of banking services requiring a licence with this provider.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[81],"tags":[],"class_list":["post-5272","post","type-post","status-publish","format-standard","hentry","category-warning"],"yoast_head":"\nWorldClearing Holding Inc. (PayPay) - FMA \u00d6sterreich<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fma.gv.at\/en\/worldclearing-holding-inc-paypay\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WorldClearing Holding Inc. 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