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SAFECHARGE GRANTED EUROPEAN E-MONEY INSTITUTION LICENSE

Published by Gbaf News

Posted on September 18, 2014

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SafeCharge (AIM: SCH), the international provider of advanced payments services, risk management and IT solutions announced that its wholly owned operating subsidiary, SafeCharge Limited, has been authorised as an Electronic Money Institution (EMI).

The authorisation will allow SafeCharge Limited to issue electronic money in accordance with the European Union E-money directive and as authorised by the Central Bank of Cyprus.

This will enable SafeCharge to continue expanding its services portfolio to its existing client base; increase services in the “Business to Consumer” (B2C) space; and progress plans for card issuance and associated services.

David Avgi, Chief Executive of SafeCharge commented: “Obtaining the EMI license fulfils one of our central objectives, as outlined in our strategy. The EMI license places SafeCharge in a key position to capitalise on the expansion of e-wallets, mobile wallets and prepaid card issuance globally.”