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What is an electronic money institution?

An electronic money institution (EMI) is a financial institution that facilitates digital payments for their customers. These institutions are licensed by relevant authorities to store and transfer electronic money. EMIs offer a wide range of payment solutions such as e-money accounts, virtual and physical debit cards, and domestic and international money transfers.

CFPS offers a free euro account and virtual and physical Mastercard® debit cards issued by Unlimit, an electronic money institution licensed by the Bank of Cyprus.

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