PAVIS Payments GmbH was established in 2018 as a subsidiary of PAVIS GmbH to provide compliant payment services for PAVIS GmbH clients. In January 2020, PAVIS Payments GmbH became a service provider in the field of intellectual property management to be granted an official license from the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) to provide a payment service. This approval was necessary to make any payment transactions between PAVIS Payments GmbH’s clients and the respective patent and trademark offices around the world fully compliant with statutory requirements. Compliance requirements are regulated by the Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz, ZAG), which has been in force since 31 October 2009 and is based on the first EU Payment Services Directive of 2007. On 13 January 2018, the new EU Payment Services Directive, PSD II, was implemented into national law in Germany. PSD II is the directive for the regulation of payment services and payment service providers in the European single market and is being implemented by all EU states over time. The heightened security measures for European payment transfers are to prevent financial crime, money laundering and financing of terrorism. Furthermore, PSD II is intended to strengthen consumer protection, promote innovation and increase competition in the market by removing obstacles to the cross-border provision of payment services. As a licensed payment provider we protect our customers and make payment transactions more secure - not only in the single European market, but also worldwide. PAVIS Payments customers also benefit from clearly structured and fully transparent processes. Of course, PAVIS Payments also offers its compliant payment service to clients of other IP service providers.