Canada    FinTech Guide    Chapter 1    Romania

1. Payment Services / Mobile Payment
Romania  Romania

Modern payment services are typically adopted easily by the Romanian public and we are not aware of any political pressures made with respect to the payment services market.

Legal Affairs

Payment services may only be provided in Romania by: (i) entities holding a payment services license granted by the National Bank of Romania; (ii) entities holding a payment services license granted by another Member State of the European Union, under the passporting rules; (iii) credit institutions; (iv) electronic currency issuers; (v) providers of giro postal services; (vi) the European Central Bank or the national banks, when not acting in their public authority capacity; and (vi) Member States, when not acting in their public authority capacity.

The minimum share capital of a payment service provider must be of: (i) EUR 20,000; (ii) EUR 50,000 or (iii) EUR 125,000, depending on the categories of payment services to be performed.

There is no licensing fee and there are no costs directly imposed by the law, however, the payment institution must prove that it fulfills the regulatory and operational requirements provided by the laws and the regulations of the National Bank of Romania.

The financial reserves of the payment institution must at all times be at the highest level of the: (i) minimum share capital; or (ii) the own funds requirements computed in accordance with the regulation of the National Bank of Romania, based on the operational particularities of the payment institution.

Economic Conditions

There is no official statistic regarding the revenues of the payment services market in Romania, however certain statistics provided by the National Bank of Romania and the European Central Bank may offer an overview of the Romanian payment services market. Please find below the most relevant numbers:

  • Number of active cards: 12,451,513 (as of end of 2017);
  • Number of POSs (of resident payment service providers): 193,934 (as of end of 2017);
  • It is expected that the digital payments market to reach a total transaction value of USD 4,626,000,000 (source:

Contributing Authors

Tuca Zbârcea Asociatii

Gabriela Anton
Bucharest, Romania

Search by:

Chapter Index:

1. Payment Services / Mobile Payment

2. Asset and Portfolio Management

3. Consulting and Broking Services / Robo-advisory / Auto-trading

4. Trading Platforms / Social Trading Platforms / Signal Following

5. Crowdfunding / Crowdinvesting / Crowdlending

6. Virtual Currency - Bitcoin

7. Loan Services / Factoring / Loan Broking / Finetrading

8. Online Banking Services

9. Analytics and Research / Data Management / Risk Management

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 May 2018