16th Sep 2014 08:28
LONDON (Alliance News) - SafeCharge International Group Ltd said Tuesday that its subsidiary, SafeCharge Ltd, has been authorised as an Electronic Money Institution.
The provider of advanced payments services, risk management and IT solutions said the wholly-owned operating subsidiary has been granted a European E-Money Institution License which will allow the company to issue electronic money in accordance with the European Union E-money directive and as authorised by the Central Bank of Cyprus.
The license will enable SafeCharge to continue expanding its services portfolio to its existing client base; increase services in the business-to-consumer space; and progress plans for card issuance and associated services.
"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," said Chief Executive David Avgi.
Shares in SafeCharge were trading 1.70% higher at 239.00 pence per share in early trading Tuesday.
By Alice Attwood; [email protected]; @AliceAtAlliance
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