SafeCharge granted European e-money institution license

SafeCharge (AIM: SCH), the international provider of advanced payments services, risk management and IT solutions,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." 

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