Airbnb to process EU payments via Luxembourg as Brexit looms

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Airbnb to process EU payments via Luxembourg as Brexit looms

Airbnb, the San-Francisco, CA-based online marketplace, founded in 2008, that offers lodging, primary homestays alongside tourism experiences, would roll out a new payment system for the hosts and guests from the European Union through Luxembourg by 2020, as the home retailing giant employing more than 12,500 workers across the globe had been making preparations for the United Kingdom’s departure from the bloc, Luxembourg for Finance said in a public statement on Wednesday, the 4th of December 2019.

In point of fact, the CA-based online marketplace offering home retailing service had long been preparing for Britain’s divorce from the European Union, as it had set out a business HubSpot at Luxembourg at the end of last year, while the home retailing giant had also applied for a payment institution license.

Nonetheless, according to Luxembourg for Finance, a governing body that oversees and promotes the tiny country’s financial sector, Airbnb was provided with a payment institution license to process payments between hosts and guests within the bloc, a 28-nation pact of European nations excluding United Kingdom.

Aside from that, the Luxembourg for Finance had also added in its Wednesday’s (December 4th) statement that a number of payment processing giants such as PayPal Holdings, Amazon Payments, Alipay and Rakuten had picked Luxembourg as their operating Centrepoint for the European Union.