PFS Continue their Expansion and Welcome API Developers to Integrate with Their Core Banking Platform in Light of Various Competitors Withdrawing the Service

LONDON, May 18, 2017 /PRNewswire/ --

Prepaid Financial Services (PFS) Ltd, an award winning alternative banking provider and e-money issuer today announced that they are signing up over 5,000 new customers every working day and will continue to welcome all API developers who are looking to integrate their solution into a full end to end banking platform that can support current accounts, SEPA payments, Faster payments and merchant acquiring solutions.

In recent weeks a number of Banking providers have confirmed that they will put their Public API developer plans on hold. When asked if Prepaid Financial Services would be following suit CEO, Noel Moran, replied: "As the demand for our current account and payment solutions continues to grow, we have no intention of scaling back on the time or resources which we have previously dedicated to our API development. We have invested heavily over the past 3 years in additional API development to specifically support this aspect of our business. We have a large dedicated experienced API team and the recent Acquisition of Spectre IT Technologies has further strengthened our offering in this area."

PFS has a strong technology background and has developed a multi-module API suite that can be easily integrated. PFS support over 2000 live clients, a substantial proportion of whom have chosen to integrate to our real-time API, allowing them to utilize their legacy systems and provide them more control than a standard hosted solution.

Moran continued: "At PFS, we believe that we need to continue to support API development, especially in the increasing areas of e-commerce and mobile payments. Our API development will further enhance new applications and systems beyond those currently available. To date, PFS have API's which support SEPA payments, UK Faster Payments, UK Direct Debits, UK Current Account Switching, prepaid card and e-wallet issuing, Voucher and e-money issuing, E-money Wallet Sponsorship, single and multicurrency." The PFS Multicurrency API has been redeveloped recently to empower banks and Foreign Exchange Bureaus to embrace the concept.

PFS attribute much of their recent success to innovative partners who have chosen to capitalise on the value of the PFS real-time API.

With the tier 1 banks heavily investing in Fintech start- ups, PFS provide the perfect infrastructure to build proof of concepts and embrace the ever-changing landscape of the Challenger Bank sector.

PFS currently employs 145 staff and have offices across 4 locations and 3 Countries.

About Prepaid Financial Services:

Prepaid Financial Services (PFS) is an award winning payments technology specialist offering a comprehensive range of e-money and banking solutions including e-wallets, physical and virtual prepaid cards and current accounts in the UK and the Eurozone. Authorised and regulated by the FCA in the UK, PFS has passported its e-money license across the SEPA region to enable card issuance throughout the region.

Founded in 2008, PFS is now one of the fastest growing card issuers in Europe, with programmes live and active in 24 countries with the ability to transact in 20 different currencies. Its products and cutting-edge technology platforms are utilised by governments, local authorities, non-governmental organisations, mobile networking operators, banks, and corporates globally.