Electronic money institution

Payment service provider with a limited license to issue electronic money and digital payment instruments for making payments. Referred to as EGI for short. Many EGIs offer their customers a payments account with an IBAN, linked to a debit card that can be used to make payments in stores and online. An EGI may also issue digital credit or gift cards, such as VVV gift cards. An EGI is not permitted to grant loans.