FCA Grants SafeCharge a Payment Institution License

SafeCharge has been awarded an FCA Payment Institution license. The company’s wholly-owned subsidiary SafeCharge Financial Services Limited has been authorized by the UK watchdog. The permit an addition to the firm’s European Electronic Money Institution.

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The license grants the company permission to offer several more services. SafeCharge can execute payment transactions via direct credit, debit, payment cards or similar tools.

In addition, the firm will be able to issue and/or acquire payment instruments, execute money remittance, and provide FX and ancillary services.

According to the official statement made by the company, the new license will enable SafeCharge to continue expanding its services portfolio. The FCA’s decision also cements the company’s future in the UK market after any Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term scenario, ignoring any potential changes to the passporting rules.

Commenting on the move, the CEO of SafeCharge, David Avgi, said: “Obtaining the Payment Institution license from the FCA fulfills one of our central objectives, as outlined in our strategy. It is also an independent endorsement of our best practices in Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term, KYC, AML and Compliance and is a testament to our high operational standards.”

“Our merchants now have the additional validation and confidence provided by the FCA authorization. This license places SafeCharge in a key position to capitalize on the expansion of its business and services in the UK market and other EEA members,” he elaborated.