The Central Bank of the Republic of San Marino announces that, as of today, PayPal (Europe) S.à r.l. & Cie, S.C.A. has been registered in the Register of Authorized Entities and the Register of Payment Service Providers as a PSP domiciled in the European Union, authorized to offer payment services in the Republic of San Marino under the freedom to provide services without establishment.
This registration - the first of a foreign financial operator in the Republic of San Marino - follows the successful completion of an authorization process pursuant to Regulation No. 2020-04. The process was initiated by the Central Bank and concluded with the active collaboration of PayPal.
The Central Bank is currently engaged in further discussions with foreign payment service providers to strengthen existing relationships with San Marino’s economic operators, ensuring full compliance with applicable regulations.
These initiatives undertaken by the Supervisory Authority in the payment services sector are part of the broader strategy to internationalize San Marino’s financial system, a key prerequisite for the sustainable development of the real economy.