POLITICS & INSTITUTIONS - ECONOMY

CSSF suspends Klik & Pay platform operator



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Luxembourg’s financial regulator has temporarily suspended the payment services licence of Cyberservices Europe SA, which operates the Klik & Play online payments system.

The CSSF said in a brief press release (PDF) issued on 25 July:

“The decision is based on the fact that the company does not comply with certain legal requirements under the payment services law.”

The regulatory agency did not specify which provisions the firm breached.

According to the CSSF website, Cyberservices Europe received the licence in February 2014.

Klik & Pay is a payment system for e-commerce sites that lets customers pay online using Visa, Mastercard, American Express, Alipay, WeChat, wire transfers and other payment methods. A Google search on Thursday found several smaller sites, such as travel agencies and local retailers, using the technology.

In addition to Luxembourg, the firm has offices in France, Mauritius, Switzerland and the US.

No one answered the Luxembourg office’s switchboard when Delano phoned on Thursday, but a recorded message stated:

“Further to a technical issue on the platform, we are not able to register new transactions. The technical team is mobilised to solve the problem. We will keep you informed as soon as possible. Thank you.”

As of this writing, the company had not returned Delano’s email message seeking comment.