Digital Virgo, licensed as an Electronic Money Institution
As an international player in Mobile Payment, Digital Virgo Group holds the „Establishment de Monnaie Électronique” (Electronic Money Institution) license, which authorizes the Group to offer payment and electronic money services throughout Europe, directly or through its status as a Payment Agent in France. These authorizations are essential to support Telecom Operators and Merchants in their core business activities.
The status of Electronic Money Institution allows Digital Virgo to guarantee the continuity and growth of its activities but also to widen its range of services. It also allows its partners to benefit from Carrier’s Billing Payment when selling physical goods. Digital Virgo collects and secures the payments received on behalf of its partners, in accordance with the regulations applicable to payment services.
Paying for physical goods via your mobile operator’s bill
Telecom Payment is used all over the world for its easy access, speed and security. It is also often used for digital goods, subscribing to a music application, purchasing an e-book, etc. But thanks to European regulations, it is now expanding to new types of products.
A new Juniper Research study revealed that transactions for online sales for physical goods will increase from $3.3 trillion in 2020 to $4.4 trillion in 2025 – 33 % growth accelerated by the COVID-19 pandemic. This demonstrates and highlights the full potential of the payment via Carrier Billing, supported by an Electronic Money Institution.
With this approval, Carrier Billing can be implemented for new products, including physical products: consumer goods, food delivery, online rentals, vending machines, vouchers, etc. A wide variety of goods and services that represents a strong growth potential for the Telecom Payment market since transactions exceeding the €50 and €300 thresholds are also allowed under the License.