The French Prudential Supervision and Resolution Authority (Autorité de contrôle prudentiel et de résolution - ACPR) has granted the FIFA Clearing House (FCH) a license to operate as a payment institution. The authorization from ACPR enables the FCH to collect and process payments on behalf of clubs in accordance with the European Union Payment Services Directive (PSD 2).
The FCH has two main objectives. The first is to centralize, process and automate payments between clubs to improve training compensation and solidarity contribution to ensure that training compensation and solidarity payments are made to the clubs who deserve them. The second is to promote financial transparency and integrity within the international transfer network. An estimated US$400 million should be distributed each year to training clubs, but they currently only receive around US$70-80 million, FIFA reminded in its press release.
Following the recent decision by the French banking supervisory authority, the FCH is expected to start operating “very soon” after having concluded the necessary banking agreements, said FIFA.
