Payments provider SafeCharge has announced its wholly owned UK subsidiary SafeCharge Financial Services has been given a licence by the Financial Conduct Authority as a Payment Institution.
Adding to the existing authorisation as a European Electronic Money Institution, it allows the company to provide services in the UK in accordance with Payment Services Regulations. It enables SafeCharge to continue expanding its services portfolio to its existing client base and to new clients, as well as future-proofing the business post-Brexit and with the potential changes to passporting rules.
David Avgi, CEO of SafeCharge, said: "Obtaining the Payment Institution licence from the FCA fulfils one of our central objectives, as outlined in our strategy.
“Our merchants now have the additional validation and confidence provided by the FCA authorisation.
“This licence places SafeCharge in a key position to capitalise on the expansion of its business and services in the UK market and other EEA members."
