Jifiti has been granted an Electronic Money Institution (EMI) licence by Sweden’s financial regulator.

After what the B2B Buy Now, Pay Later (BNPL) provider described as a rigorous review and qualification process by the Swedish watchdog, it said the EMI license serves as comprehensive validation of its robust compliance and regulatory standards, which also include PCI/DSS, SOC 2 and ISO 27001 certifications.

Jifiti went on to say that with the EMI licence, it is able to serve the growing needs of its bank, lender, financial services and merchant clients with a broader scope of payment products and services. It added that banks and lenders that want to “innovate rapidly and compete efficiently” in the payments landscape can now do so with Jifiti with the confidence and knowledge that there is enhanced regulatory oversight.

“Our mission at Jifiti is to provide consumers and businesses with access to responsible, affordable financing options from regulated financial entities,” said Jifiti chief executive Yaacov Martin. “Becoming a licensed e-money issuer takes our company to the next level in its growth trajectory and enables us to bring even more value to our customers and partners.”

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