Collaboration OPP

Posted on 16-02-2024 by F. Geurtsen

Crowdrealestate has partnered with Online Payment Platform due to the new European licence late last year, Online Payment Platform (OPP) is an external payment service provider which has great expertise regarding online payments.
According to the European Crowdfunding Regulation (ECSPR), all crowdfunding platforms must use an external payment service provider. Using OPP as an external payment service provider separates Crowdrealestate's financial flows as a company from its role as an intermediary between investors and project owners. Somewhat similar to the third-party account managed by the notary as Crowdrealestate has always applied for its existing and (completed) ongoing projects.

OPP will act as our payment service provider and manage all payments within the crowdfunding process. This includes all transactions to and from investors and project owners. As part of these transactions, OPP is required by law to carry out Know-Your-Customer (KYC) processes. This means that OPP will start processing the personal data of our users.

What does this mean for you?

Identity verification will be requested by OPP. Investors can confirm their identity by using iDIN, which has already been used at Crowdrealestate. With this application, identity can be verified via a data transaction with a Dutch bank. As before, there is an alternative and it is also possible to manually upload a copy of the front and back of the proof of identity.

In addition, there is a requirement for bank account verification via an iDEAL payment of 1 eurocent. This payment serves to verify the bank account, including the ascription. This is the bank account on which all payments will be received and it must be in the name of the investor. To perform this verification, Crowdrealestate links the investor's active account number to their account with the payment service provider.

An investor and simulation test will also be conducted through OPP and you can be classified as a non-experienced and experienced investor. All these steps are fully integrated on our website and you will soon be able to go through them easily through your own environment on the platform.

When applicable?

Crowdrealestate applied for the European licence late last year. It has been submitted in full and is currently under review by the AFM and DNB. In anticipation of the licence being granted, existing users will be invited in phases to verify themselves via OPP within a few weeks. This is not an obligation, but is necessary if, upon granting the licence, they wish to participate in new projects.