Moneycorp Gains e-Money License in Ireland

Moneycorp Group, a UK-based foreign exchange and Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company, has secured an electronic money institution (e-money) and MiFID license from the Central Bank of Ireland (CBI), easing its entrance into the European Union markets.

The license has been obtained for a local entity named Moneycorp Technologies.

This is a part of the company’s strategy to keep offering its services in the EU countries after the Brexit takes effect.

“We are delighted to have secured both E-money and MiFID licenses from the Central Bank of Ireland,” Bryan McSharry, CEO of Moneycorp’s European business, said mentioning the development. “This ensures we can continue to support our existing customer base; continue to grow our business in Ireland; and expand our business across the EU in a post 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 environment.”

Offering forex and payments services for decades

Founded in 1979, Moneycorp is offering its foreign exchange services to both corporations and individuals. The company is headquartered in London and entered Ireland in 2013 by opening an office in Dublin to better target its corporate clients in the country.

“Since launching in Dublin in 2013, we have built a strong corporate and individual customer base of Irish clients – based on our ability to provide best in class foreign exchange services across our market-leading technology platform. We completed €3 billion of transactions for Irish clients in 2019 and we will build on that in 2020 and beyond,” McSharry added.

Apart from its presence in the UK and Ireland, Moneycorp also has offices in the USA, Brazil, Hong Kong, Spain, Gibraltar, Romania, Australia, and the UAE.

“Our CBI licenses will enable us to continue to expand our business and headcount in Ireland and offer our market-leading service to a vastly increased customer base across the EU,” the CEO continued.