AirPlus at a glance

AirPlus International GmbH is a licensed payment institution pursuant to Section 10 clause 1 of the German Act on the Supervision of Payment Services (Zahlungsdiensteaufsichtsgesetzes, ZAG) and as such is subject to the regulations of the ZAG and the control of the Federal German Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin).

Pursuant to Section 17 of the ZAG (security requirements concerning the acceptance of monies as part of the provision of payment services), as part of its provision of payment services, AirPlus International GmbH must secure monies accepted from users of its payment services or other payment services providers. These monies may not be mixed with other monetary amounts and must either be deposited in an open escrow account held with a secure credit institution or invested in secure liquid assets, provided they are still in the possession of the payment institution at the end of the business day following the date they were received. Alternatively, these monies may be secured through insurance or comparable guarantee taken out with a third-party institution entitled to conduct business within the scope of the ZAG, or through a monetary amount equal to the amount that would have had to be held separately if not for the insurance or comparable guarantee.

Since AirPlus International GmbH secures the aforementioned monies received from customers through a bank guarantee, it is in compliance with the statutory security requirements pursuant to Section 17 of the ZAG.

The warrantor is UniCredit Bank AG, Am Tucherpark 16, 80538 Munich, Germany.

The inclusion of AirPlus International GmbH in the register of payment institutions pursuant to Section 43 of the ZAG can be viewed on the BaFin homepage.