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Escrow Account

Escrow Account

Escrow Account

As a payment institution, Novalnet AG is obliged to securely manage the funds provided by its merchants. Therefore Novalnet AG processes all payment transactions via fiduciary/escrow accounts that are protected against insolvency. The disbursements are then made directly to the individual merchants.

Novalnet AG can also open an escrow account for any reseller/ partner/ affiliate of the merchant (payee). Through the integrated affiliate management solution, any other merchant partners can also benefit from the escrow account management.

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Escrow Account

Your money is safe

Novalnet AG is subject to the strict regulatory requirements of the German Federal Financial Supervisory Authority (BaFin) and the German Bundesbank (DBB). This means that Novalnet AG must comply with a large number of regulations, compliance with which is checked and documented by BaFin, DBB and auditors. For example, Novalnet AG is obliged to have adequate risk management and control mechanisms as well as procedures and data processing systems that ensure adherence to the requirements of the Money Laundering Act (AMLA) and Regulation (EC) No. 1781/2006.

Furthermore, the Novalnet AG has to secure the funds received for the execution of payment transactions according to certain regulations. The funds are therefore processed exclusively via escrow accounts during payment processing. This ensures that the funds are 100% secure and, among other things, protected against insolvency. The settlement via an escrow account thus has the great advantage for the merchants that the risk of non-payment of Novalnet AG is reduced to zero.