Payment technology provider Prepaid Financial Services (PFS) has obtained a new e-money licence from the Irish central bank.
Through the move, the firm can utilise its passporting rights to gain uninterrupted access to the European Economic Area. This will still be possible after Britain’s departure from the EU bloc.
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PFS offers e-wallets, physical as well as virtual prepaid cards and IBAN accounts in the UK and Eurozone.
The firm is one of the largest issuers of payment cards in Ireland. It is also authorised by the Financial Conduct Authority in the UK.
Last month, fintech firm Soldo too bagged an e-money licence from the central bank of Ireland.
PFS CEO Noel Moran said: “The future looks even brighter now for PFS with this announcement.
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By GlobalData“It ensures that no matter what happens with regards to Brexit, our business is prepared for all scenarios and there will be no impact to our customers and partners.
“We look forward to enjoying an excellent working relationship with the Central Bank of Ireland in the years to come.”
PFS was recently in the news for acquisition of Barclaycard’s physical prepaid card portfolio in the UK.
Moreover, PCS prepaid cards from PFS recently added support for Samsung Pay in France.
