UK fintech PrePay Solutions gets Belgium e-money licence
In a bid to curb Brexit uncertainty, London-based PrePay Solutions (PPS) was given an e-money licence by the National Bank of Belgium (NBB) and has opened an office in Brussels.
With its new licence, the digital banking and paytech firm will be able to continue working with its EU clients whatever the aftermath of UK Brexit negotiations.
PPS: “It’s often said that certainty is critical for business.”
Its ‘PPS EU’ base in Brussels will support PPS’ E-Money, Payment and Mastercard issuing services in the European Economic Area (EEA).
“It’s often said that certainty is critical for business and PPS can now give certainty to its clients,” says PrePay Solutions CEO Ray Brash.
He adds: “Even before the UK referendum vote in 2016 it was clear that being part of the European payments space was crucial for PPS and our clients.”
The 19-year-old company serves more than 200 clients across 30 countries, and in 2018 it processed more than 1.6 billion transactions worth $35 billion.
“A large part of our business is in the EU and this market has massive opportunities and digital payments will continue to grow for many years,” says Brash, who describes PPPS’ decision to establish an office in Brussels and obtain an issuing licence “a natural extension” of its strategy to maintain its presence in Europe.
