RegAlertFrance: fintech & payments regulation — 2026-09
RegulatedFrance fintech: ACPR licenses payments/e-money; AMF licenses crypto under MiCA
Frozen snapshot — the guide as it stood at the end of 2026-09. See the live guide for the current state.
The ACPR is the primary supervisor for payments and e-money under the CMF and PSD2. The AMF supervises crypto-asset services under MiCA. The regime is mature, with strict capital and governance requirements enforced by the ACPR.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Payment processing / gateway | LicencePayment Institution Requires own-funds and fit & proper management | EUR 300,000 | 3-6 months | ACPR |
| E-money & wallet issuance | LicenceElectronic Money Institution Requires own-funds and fit & proper management | EUR 300,000 | 3-6 months | ACPR |
| Domestic money transfer | LicencePayment Institution Included in payment institution scope | EUR 300,000 | 3-6 months | ACPR |
| Cross-border remittance | LicencePayment Institution Included in payment institution scope | EUR 300,000 | 3-6 months | ACPR |
| Agent network | RegistrationPayment Agent Requires declaration to ACPR | — | — | ACPR |
| Open banking / account information | LicenceAccount Information Service Provider Requires registration with ACPR | — | — | ACPR |
| Foreign-exchange services | LicencePayment Institution Included in payment institution scope | EUR 300,000 | 3-6 months | ACPR |
New — what changed recently
- 2024-06-21MiCA Implementation Instructions — ACPR issued instructions for MiCA compliance, including forms for token issuers and qualified participation notifications.
- 2024-04-19Withdrawal Procedures Update — ACPR standardized procedures for withdrawing approvals and registrations for payment and e-money institutions.
- 2023-11-20TARGET System Amendments — Banque de France updated TARGET participation conditions, including emergency connectivity and fee structures.
Market-entry checklist
- 1Secure EUR 300k capitalEnsure statutory minimum capital is held in a French bank account before applying.
- 2Appoint fit & proper managersSubmit CVs and criminal records for all effective managers to the ACPR.
- 3Submit ACPR applicationUse the standardized electronic forms for Payment Institution or EMI authorization.
- 4Register with CNILEnsure GDPR compliance and register data processing activities with the CNIL.
- 5Open TARGET accountApply for TARGET system participation through the Banque de France if needed.