The UK’s subsidiary of SafeCharge, the SafeCharge Financial Services Limited acquires legal status as a payment institution from the Financial Conduct Authority (FCA).
In compliance with the payment services regulations, the new authorisation empowers SafeCharge Financial Services Limited to extend its payment services in the UK. Under this SafeCharge will also be enabled to extend its service offering to exist clients as well as new ones.
This will also see to it the future proofing of the business post-Brexit and potential changes to the passporting rules.
This authorisation is following the SafeCharge Limited’s existing legal status as a “European Electronic Money Institution.”
David Avgi, the Chief Executive of SafeCharge, said: “Obtaining the Payment Institution licence from the FCA fulfils one of our central objectives, as outlined in our strategy.”
“It is also an independent endorsement of our best practices in risk management, KYC, AML and compliance and is testament to our high operational standards.”
“This license places SafeCharge in a key position to capitalise on the expansion of its business and services in the UK market and other EEA members.”
Source: European Gaming News
