COREDO > Business support > Instruments for Financial Institutions

Instruments for Financial Institutions

Payment Infrastructure, Card Programs, and Connectivity for Licensed Companies

COREDO ensures a seamless operational launch after licensing: from acquiring and card issuance to scaling across Europe.

Internet acquiring for accepting online payments
Payment card issuance through White Label programs and BIN sponsorship
SEPA/SWIFT/IBAN integration for domestic and international transfers
Licence passporting for cross-border operations in the EU
Specialised software solutions for financial service delivery

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Our Financial Instruments and Services

Internet Acquiring

Internet acquiring enables licensed companies to accept online payments from customers via Visa, Mastercard, and alternative payment methods. The first step is opening a merchant account — COREDO prepares the documentation package, selects the optimal acquiring partner based on the client’s business model and risk profile, and manages the onboarding process.

Merchant account onboarding requires a compliance review of the business, its beneficial owners, website, and transaction profile. Since April 2025, acquirers must also comply with the consolidated Visa Acquirer Monitoring Program (VAMP), which sets stricter thresholds for fraud and dispute ratios. COREDO ensures your acquiring setup meets current scheme requirements from the outset, avoiding costly program violations.

Payment Card Issuance

COREDO helps financial institutions and corporate clients launch card programs through White Label payment card solutions. This service enables the issuance of prepaid plastic cards, debit cards, and virtual cards usable worldwide — all bearing the client’s own brand, logo, and design.

Under PSD2, card issuance requires the issuer to hold a valid financial licence (PI, EMI, or credit institution). For companies that do not yet have direct Visa or Mastercard membership, BIN sponsorship provides an alternative: a principal scheme member “sponsors” the program, providing scheme connectivity and compliance coverage. This approach reduces time to market from years to months, making card programs accessible to a much wider range of licensed financial institutions.

SEPA / SWIFT / IBAN Integration

SEPA (Single Euro Payments Area) enables credit and debit transfers in euros across 36 member countries: 27 EU member states, four EFTA countries, the United Kingdom, and four additional territories. IBAN (International Bank Account Number) is the mandatory account format for SEPA transactions.

Licensed EMIs can join SEPA directly and open individual IBAN accounts for their clients — a critical capability for any payment or electronic money business operating in Europe.

SWIFT connects over 11,000 financial institutions in 200+ countries, providing the infrastructure for international transfers beyond the SEPA zone. COREDO helps clients integrate with both systems, ensuring they can serve both European and global payment needs.

The EU Instant Payments Regulation ((EU) 2024/886) has fundamentally changed the SEPA landscape. Since 9 January 2025, eurozone payment service providers must receive instant credit transfers; from 9 October 2025, they must send them within 10 seconds, 24/7/365, at no additional cost compared to regular SEPA transfers.

The regulation also introduces mandatory Verification of Payee (VoP) from October 2025, requiring payment service providers to verify that the payee’s name matches the IBAN before execution. COREDO ensures that SEPA integration projects account for these new obligations from the outset.

Licence Passporting

A company licensed in one EU member state can provide its authorised services across all other EU/EEA countries through passporting — the process of notifying host state regulators of the intention to operate cross-border. This eliminates the need for separate licences in each country, avoiding the lengthy and costly bureaucratic process that would otherwise be required.

Passporting rights are available to EMIs, PSPs, banks, and MiFID-regulated firms. COREDO manages the entire notification process: preparing passporting documentation, coordinating with the home state regulator, and tracking host state confirmations until the company is authorised to operate in target markets.

Software for Financial Companies

The financial services industry is in a process of continuous digital transformation. COREDO provides software development and integration services for financial institutions, banking operations, and wealth management firms.

Our software solutions cover core banking systems, AML/CFT screening and monitoring tools, fraud prevention, big data analytics, client onboarding platforms, and third-party service integrations. Well-designed financial software automates service delivery, improves the client experience, and ensures the institution’s technology stack supports its regulatory obligations — including DORA ICT risk management requirements.

Jurisdictions and Geographic Coverage

Financial instruments are available to licensed companies operating across the European Union and beyond:

Instrument	Geographic Coverage	Key Infrastructure
Internet Acquiring	Global (Visa/Mastercard acceptance worldwide)	Merchant accounts, acquirer partnerships
Payment Cards	Global (cards usable worldwide)	BIN sponsorship, Visa/MC principal membership
SEPA/IBAN	36 SEPA countries (27 EU + EFTA + UK + territories)	Direct SEPA membership, IBAN allocation
SWIFT	200+ countries, 11,000+ institutions	SWIFT BIC, correspondent banking
Passporting	EU/EEA (27 EU + EEA states)	Host state notifications, regulator coordination
Software	Any jurisdiction	Custom development, integration services

The geographic reach of each instrument depends on the client’s licence type and authorised jurisdictions. COREDO advises on the optimal combination of instruments for financial institutions based on each client’s business model and target markets.

Financial Instruments Regulation Beyond the EU

COREDO extends financial instrument services beyond EU boundaries, navigating complex regulatory frameworks in four key global jurisdictions:

Canada: CIRO, Provincial Commissions, and FINTRAC

Regulation is split between federal and provincial levels. CIRO regulates investment dealers and advisors across Canada. Provincial securities commissions (OSC, AMF, etc.) oversee local markets. FINTRAC registration is required for MSBs and virtual asset activities.

COREDO supports CIRO registration, provincial filings, and FINTRAC compliance.

Singapore and the Monetary Authority of Singapore (MAS)

MAS licenses capital markets services (CMS), including brokerage, investment advisory, and trading platforms (RMO). The regulator applies a technology-neutral approach to digital assets and tokenized instruments.

COREDO supports CMS licensing, RMO applications, and digital asset projects in Singapore.

Switzerland: FINMA, SIX, and Decentralized Ledger Technology (DLT) Regulation

FINMA regulates financial institutions under FinIA/FinSA. SROs supervise specific market segments. SIX provides access to stock exchange and clearing infrastructure. The DLT Act governs tokenized assets and their circulation.

COREDO supports FINMA licensing, SRO membership, SIX access, and DLT-based projects.

Dubai and the United Arab Emirates: DFSA, SCA, and Virtual Asset Regulation (VARA)

The UAE is a multi-regulator system: DFSA (DIFC), ADGM FSRA, SCA (mainland), and VARA (virtual assets), each with its own regime.

COREDO supports DFSA, ADGM, VARA licensing, SCA registration, and structuring operations across the UAE and GCC.

Financial Instruments Comparison

Parameter	Internet Acquiring	Payment Cards	SEPA/SWIFT/IBAN	Passporting	Software
Purpose	Accept online payments	Issue branded cards	Euro and international transfers	Cross-border EU operations	Automate financial operations
Required Licence	EMI or PI	PI, EMI, or credit institution	EMI (direct SEPA membership) or via bank	Any EU-regulated licence	N/A (supports licensed entities)
Scheme Compliance	Visa VAMP, MC standards	BIN sponsor or principal member	SEPA rulebook, IPR 2024/886	EU passporting rules	DORA ICT requirements
Timeline	2–8 weeks (merchant setup)	Months (BIN sponsorship) to years (direct membership)	4–12 weeks (integration)	2–6 weeks per host state	Project-dependent
Key Benefit	Card payment revenue	Brand presence, customer loyalty	Euro payment connectivity	EU market access	Operational efficiency

How We Work

COREDO applies a four-stage approach to implementing instruments for financial institutions:

Assessment

We review the client’s existing licence, business model, target markets, and payment infrastructure needs. This determines which instruments are required: a newly licensed EMI may need all five, while an established PSP may require only SEPA integration and passporting.

01

Solution Design

Based on the assessment, we select optimal partners and architecture for each component: an acquiring bank for merchant accounts, a BIN sponsor for card programs, the SEPA connectivity approach (direct vs. partner bank), target jurisdictions for passporting, and software development scope. Each solution meets current scheme requirements and regulatory frameworks, including the EU Instant Payments Regulation and Visa VAMP standards.

02

Implementation

COREDO manages the technical and regulatory integration: connecting to acquiring systems, setting up card programs with BIN sponsors, integrating SEPA and SWIFT channels, and filing passporting notifications. We handle documentation, compliance checks, software deployment, and coordination with all counterparties.

03

Ongoing Operations

After launch, COREDO provides continuous support: scheme compliance monitoring, regulatory change tracking (Verification of Payee effective October 2025, PSD3 in progress), managing additional passporting applications, and software system maintenance.

04

Our Experts

Nikita Veremeev

Founder of COREDO since 2016. Over nine years of experience building payment infrastructure for licensed financial companies across the EU. Nikita leads strategic partnerships with acquiring banks, BIN sponsors, and scheme members.

Pavel Kos

Head of COREDO's legal team since July 2020. Pavel manages the regulatory framework for passporting applications, scheme compliance documentation, and regulator coordination across multiple EU jurisdictions.

Why COREDO

A complete set of instruments for financial institutions from a single provider.

Most consulting firms focus on licensing but stop short of operational infrastructure. COREDO covers the entire chain: licence, acquiring, cards, SEPA/SWIFT, passporting, and financial software deployment.

Scheme compliance from day one.

COREDO ensures every instrument setup meets current Visa and Mastercard requirements (including 2025 VAMP standards) and EU regulatory obligations under IPR, PSD2, and DORA. This prevents costly post-launch remediation.

BIN sponsorship expertise.

Launching a card program without direct Visa or Mastercard membership is complex. COREDO understands the specifics of BIN sponsorship, connecting clients with principal scheme members and managing program setup from design to issuance.

Regulation-aware integration.

Payment infrastructure must comply with constantly evolving rules. The EU Instant Payments Regulation requires 10-second processing and Verification of Payee from October 2025, while DORA imposes ICT risk management and PSD3 approaches. COREDO designs every integration with these obligations built in from the start.

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Case Studies

Case 01Licensed EMI in Lithuania.

Challenge: A newly licensed Lithuanian EMI needed full SEPA/SWIFT connectivity to process cross-border euro payments. The company had no experience with direct scheme integration.

Solution: COREDO selected a banking partner, coordinated API integration, completed the account verification process, and facilitated direct SEPA membership.

Result: SEPA/SWIFT connectivity was activated within 4 weeks, enabling the EMI to serve EUR payments across the EU and participate in instant payments in accordance with Regulation (EU) 2024/886.

Case 02Card-Issuing Company in the United Kingdom.

Challenge: A UK-based fintech company with an EMI licence planned to launch a branded Visa/Mastercard debit card program but lacked direct scheme membership. Obtaining membership independently would have taken over a year.

Solution: COREDO identified a suitable BIN sponsor (a principal scheme member), negotiated sponsorship terms, prepared all program documentation, and completed the approval process.

Result: The card program launched within 3 months with support for tokenised payments and 3D Secure authentication.

Case 03Payment Gateway in the Czech Republic.

Challenge: A Czech payment gateway serving European and global merchants needed to expand into multi-currency acquiring to process payments in EUR, USD, and GBP. Its existing infrastructure supported only CZK transactions.

Solution: COREDO selected optimal acquiring routes for each currency, conducted integration with Visa/Mastercard processing systems, and implemented monitoring in accordance with VAMP standards.

Result: Multi-currency payment processing launched within 6 weeks with full scheme compliance.

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Frequently Asked Questions

Can multiple instruments be implemented simultaneously, or only sequentially?

Yes, COREDO can manage parallel implementation of multiple instruments. For example, SEPA integration and card program preparation can proceed simultaneously if the client’s licence permits both activities. However, certain dependencies are unavoidable: passporting to new jurisdictions makes sense only after the core payment infrastructure is in place. COREDO creates an implementation plan with the optimal sequencing of stages for each client.

What happens if an acquirer rejects a merchant account application?

Acquirer rejections are not uncommon, particularly for companies with high-risk profiles or in emerging industries. In such cases, COREDO analyses the reasons for rejection, adjusts the documentation package, and selects an alternative acquirer more tolerant of the specific business type. In our experience, a resubmission with a properly matched partner is approved in the majority of cases.

How do DORA requirements affect financial instruments?

The DORA regulation (Digital Operational Resilience Act) requires financial institutions to manage ICT risks, including resilience testing, incident monitoring, and technology vendor relationship management. For financial instruments, this means all software solutions, SEPA/SWIFT integrations, and payment processing systems must meet DORA operational resilience standards. COREDO accounts for these requirements when designing every integration.

What happens to a card program if the BIN sponsor changes?

Changing a BIN sponsor is a complex process requiring card reissuance, BIN range updates, and re-completion of scheme approval procedures. To avoid this, COREDO pays particular attention during the selection phase to the long-term reliability of a potential sponsor: financial stability, program management experience, and partnership track record. A properly selected sponsor minimises the risk of forced migration in the future.

What is the difference between direct SEPA membership and access through a partner bank?

Direct SEPA membership allows an EMI to independently open IBAN accounts for clients and process EUR transfers without intermediaries. Access through a partner bank is simpler and faster to set up but limits control over operations and creates dependency on the bank’s terms. COREDO evaluates the client’s transaction volume and strategic plans to recommend the optimal connectivity option.

How long does passporting last, and does it need to be renewed?

Passporting is valid indefinitely as long as the company’s licence remains active in the home state. No separate renewal is required. However, the company must notify the home state regulator of material changes to its activities. COREDO provides monitoring of regulatory changes in host states and assists with additional notifications when expanding the scope of services.

Contact Us

Ready to build your payment infrastructure — acquiring, cards, SEPA/SWIFT, or passporting? COREDO’s financial instruments team will design a solution tailored to your licence type and target markets.

Call us: +420 228 886 867 | Email us: info@coredo.eu Visit us: K Červenému dvoru 3269/25a, Prague, 130 00, Czech Republic