A Small E-Money Institution, also known as Small EMI or SEMI, is a type of Electronic Money Institution with the ability to issue electronic money. It is limited to providing payment services only. Small E-Money Institutions cannot provide account information or payment initiation services.
There are two other limitations to a Small Electronic Money Institution:
- The total commercial activity shall not generate an outstanding balance of over 5,000,000 Euros
- The monthly average of the total amount of relevant payment transactions for the previous 12 months shall not exceed 3,000,000 Euros