Netopia Payments receives payment institution license from Romania’s National Bank

Digital payments processor Netopia Payments announced on Monday, July 13, that it obtained a payment institution license from the National Bank of Romania, paving the company’s way from a provider of online payment solutions to a regulated financial infrastructure.

Active since 2003, Netopia Payments serves more than 25,000 e-commerce merchants and processes annually over 30% of the online card transactions carried out in the local market.

Obtaining the license confirms the company’s alignment with a framework specific to payment institutions and entails stricter standards regarding the administration of funds, operational control and compliance mechanisms.

Specifically, this means the separation and protection of funds related to payment operations, strengthened internal controls, and periodic reporting to the National Bank of Romania.

The change also adds a layer of protection for the processed funds, as Netopia’s operations will be regulated by the central bank.

“The Netopia Payments team worked on this process for several years, and the organization transformed accordingly. Governance, the internal control framework, risk management, and operational resilience were strengthened. Trust is the most important asset in the payments industry, and payment institution status is the way we build it systematically,” said Raluca Micu, CEO of Netopia Payments.

For merchants, this change does not require any additional steps and does not affect current payment or settlement flows. The company’s services will continue to operate without interruption, and the update of the terms and conditions will be carried out automatically.

In 2023, Netopia Payments was acquired by Innova Capital, one of the most important investment funds in Central and Eastern Europe. The transaction was backed with funds from the European Commission’s National Recovery and Resilience Fund (PNRR).

(Photo source: press release)