LONDON, September 16, 2014 /PRNewswire/ --
SafeCharge (AIM: SCH), a leader in advanced payment technologies, today announces that its wholly owned operating subsidiary, SafeCharge Limited, has been authorised as an Electronic Money Institution (EMI).
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The authorisation will allow SafeCharge Limited to issue electronic money in accordance with the European Union E-money directive and as authorised by the Central Bank of Cyprus.
This will enable SafeCharge to continue expanding its services portfolio to its existing client base; increase services in the "Business to Consumer" (B2C) space; and progress plans for card issuance and associated services.
David Avgi, Chief Executive of SafeCharge commented:
"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."
About SafeCharge
SafeCharge International Group Limited is a global provider of payments services, risk management and IT solutions for online businesses. The SafeCharge group has a diversified, blue chip client base and is a trusted payment partner for customers from various e-commerce verticals. SafeCharge has been Payment Card Industry Data Security Standard ("PCI-DSS") Level 1 certified since 2007 and is listed on the London Stock Exchange AIM market (LSE: SCH). The Company's wholly owned subsidiary, SafeCharge Limited, is an authorized Electronic Money Institution regulated by the Central Bank of Cyprus (CBC). SafeCharge Limited is a principal member of MasterCard Europe and of Visa Europe. The SafeCharge group has operations in the UK, Cyprus, Bulgaria, Israel, Germany and Austria.
For more information:
SafeCharge International Group Limited
Tim Mickley
+44(0)20-3051-3031
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