easycash GmbH, a company of the Ingenico Group (Euronext: FR0000125346 - ING), has been granted a "license to provide e-money services" by the German Federal Financial Supervisory Authority (BaFin).
easycash is one of the first of the network operators in the field of cashless payment transactions approved by the German Banking Industry Committee (ZK) to become an e-money institution. With this license, easycash can now enable its customers to expand their services in the world of card payment and customer retention.
This step towards becoming an e money institution is an essential aspect of easycash's one stop shop strategy. It offers our partners the opportunity to make use of even more comprehensive solutions offering added value in the entire Europe SEPA zone from one single source", explains easycash Managing Director Marc Birkner. "We are one of the first representatives from our industry to obtain this license and consider it to be an award for our company's solidity and reliability."
An E-Money Institution - Limitless Prepaid Issuing
easycash, which has already been a payment institution since 2011, has yet again expanded its range of services after being granted by the BaFin a "license to provide e-money services", which is alos applicable in all other EU Member States.
The company, which was previously only able to technically run card programs with assistance from its sister company easycash loyalty solutions, will now be able to operate as an issuer or co-issuer of open loop and restricted loop prepaid cards. easycash is therefore one of a few service providers that are able to offer their customers the entire value chain of card payment.
E-Money: A Growth Market
Experts expect that in as early as 2017, around 10% of cashless payment transactions around the world will be processed using e-money or prepaid products in the form of cards, NFC chips, e-vouchers, smartphones or online payment accounts.
With Next Generation Loyalty, the combination on mobile of competences for loyalty, consumer data management, couponing and prepaid cards, now give Ingenico in Europe a unique omni channel value proposition, to improve both payment services and the performance of the retailers.