Overview
PayNovus, at a glance.
PayNovus is an e-money institution headquartered in Bulgaria, regulated by Bulgarian National Bank. The company behind PayNovus is PayNovus AD. Pricing is agreed with each client. Opening an account takes 3–5 days.
PayNovus is an e-money institution: balances are e-money, not bank deposits, and no deposit insurance applies. Its pages do not describe how client money is safeguarded.
Why businesses pick PayNovus
- Individual IBAN in your company's name, with virtual IBANs on request
- SEPA, SEPA Instant, Faster Payments and SWIFT
- Licensed gambling operators from the EEA, Isle of Man, Channel Islands and Gibraltar accepted, with approval
- EU-licensed e-money institution with a Portugal branch
- Card acquiring and Visa, Mastercard and UnionPay card programmes from the same provider
Watch out for
- No prices published
- FX uses ECB reference rates plus an unpublished markup
- Crypto, money services, CFD speculation and carbon credits refused
- Casinos and betting refused, and gambling outside the EEA and Crown dependencies
- Trustpilot score of 3.2 from a single review
Business fit
Will PayNovus accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on PayNovus's published rules
Needs review
PayNovus works with European merchants, but does not publish the countries it accepts companies from.
PayNovus does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What PayNovus publishes about the businesses it takes on.
Who PayNovus serves
- E-commerce
- Financial institutions
- iGaming
- Marketplaces
All 7 industries on PayNovus's accepted list
- European merchants
- Payment service providers
- E-commerce businesses
- Businesses needing dedicated IBANs
- Businesses needing SEPA, SWIFT and local payouts
- Businesses needing Visa, Mastercard or UnionPay card programmes
- Platforms needing acquiring and settlement infrastructure
Not supported
Industries and countries PayNovus does not accept, from its own published lists.
Industries
- Dealers involved in distribution of arms and munitions
- Companies that produce, manufacture or sell weapons
- Firearms or other weapons facilitation, sale or distribution
- Military goods, military software or technologies
- Weapons and military-grade security services
- Unlawful drugs, including cannabis industry
- Marijuana activities, creation, facilitation, sale or distribution
- Drug paraphernalia
- CBD and related products
- Chemicals and dietary supplements in cross-border facilitation, sale or distribution
- Unlicensed, unregistered or unregulated Money Service Businesses
- Shell banks
- Unlicensed banks
- Anonymous numbered accounts
- Payable-through accounts
- Unauthorised, unlicensed or unregulated virtual-currency exchanges
- Transactions deriving from cryptocurrencies
- Cryptoasset activities
- Nested financial-institution relationships or layering
- Ponzi schemes and pyramid schemes
- Speculation on FX-rate changes
- FX business without a licence outside the EEA
- Speculative trading
- Cash-funded remittances
- Carbon credits and related trading
- Licensed gambling operators outside the EEA, Isle of Man, Channel Islands and Gibraltar
- Online gambling entities restricted under UIGEA/Regulation GG for USD accounts
- Casinos
- Betting, lotteries, casino chips and off-track betting
- Human trafficking
- Human exploitation
- Child labour
- Prostitution
- Red-light businesses, adult entertainment and dating
- Counterfeit goods and trademark infringement
- Precious metals and stones, including diamond traders
- Unauthorised resale of luxury goods, including watch traders
- Telemarketing and contact centres
- Multi-level marketing
- Pawnbrokers
- Scrap-metal traders
- Energy traders
- Mining and extraction
- Unregistered charities
- Political organisations
- Activity promoting discrimination, bigotry or violence
- Activity requiring a governmental licence where the operator lacks one
- OFAC-listed or sanctioned countries, businesses, organisations, entities or individuals
Countries
- Not published
Coverage
Where can you use PayNovus?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
EUR, GBP, USD
- EUR
- GBP
- USD
Payments in 35+ currencies.
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Legal entities
Pricing
What does PayNovus cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Not published
Monthly fee
Not published
Business account
Custom
Transaction fees
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published | ECB reference rate plus a markup |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply
Start the online business-account application.
- 2
KYB
Complete the registration form, representative details and AML declarations.
- 3
Approval
PayNovus reviews the company and approves the account.
- 4
Account live
Receive the IBAN, request virtual IBANs if needed, and fund the account.
Documents you need
Not published
FAQ
Your questions, answered.
Is PayNovus licensed?
Yes. PayNovus AD is an e-money institution licensed by the Bulgarian National Bank (Decision No. 73 of 21 July 2011), passported in the EEA, with a branch in Portugal.
How much does a PayNovus account cost?
PayNovus publishes no account prices. FX uses European Central Bank reference rates plus a markup.
Does PayNovus accept gambling businesses?
Licensed operators from the EEA, the Isle of Man, the Channel Islands and Gibraltar, with approval. Operators licensed elsewhere, casinos and betting are on its refused list, and online gambling is restricted for USD accounts.
Which businesses does PayNovus refuse?
Its list includes weapons and military goods, cannabis and CBD, unlicensed money services, crypto, shell banks, speculative and FX-rate trading, carbon credits, adult entertainment, precious metals, telemarketing, pawnbrokers, scrap metal, energy traders and mining.
Alternatives
How PayNovus compares.
If PayNovus is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 PayNovusThis pageE-money institution |  | Dedicated IBANCard programmes |
 iCardE-money institution | | Low feesFree Mastercard |
 PayseraE-money institution |   | Low fees16 support languages |
 WallesterPayment institution |  | Visa cards10 currencies |
 3S MoneyE-money institution |    | Local IBANsNon-residents accepted |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.