Prepaid Financial Services (PFS) Announces 2016 Annual Growth of 45% (to €47.6m) as the Company Continues its Expansion

LONDON, September 18, 2017 /PRNewswire/ --

Today, Prepaid Financial Services (PFS), a leading authorised and regulated EMEA FinTech, has confirmed its annual results for the year ended 31 December 2016. The award-winning payments technology specialist who offers a comprehensive range of e-money and banking solutions has achieved annual growth of 45%, taking turnover to €47.6 million up from €32 million in 2015 and an EBIT of just under €4 million.

These results are in line with targets announced in November 2015 and are the result of another record-breaking year for the payments company.

In 2016, the company loaded just under €1 billion Euro onto their prepaid products and had a number of significant wins, including Kela (The Social Insurance Institution in Finland), many internationally recognised NGO's and have continued to add a significant number of UK Council and CCG's to their client portfolio.

PFS is looking to accelerate the growth achieved in 2016 and is on track to achieve revenue of €50 million in 2017 and EBIT of €6 million.

Following a recent internal review and department restructure, PFS is investing heavily in resources across several departments to support its growing business. PFS currently employs 175 staff and has offices across 4 locations in 3 Countries.

The company has built up a customer base of over 2 million cardholders (including prepaid products, e-wallets, and bank accounts) and will issue more than 1 million new cards and accounts during 2017. Founded in 2008, PFS has programmes live in 24 countries, has the ability to transact in over 22 different currencies and continues to be one of the fastest growing Mastercard issuers in Europe and their leading Public-Sector issuer.

Noel Moran, CEO stated: "We have continued to grow over the past 12-18 months at an extraordinary rate and we are very happy with the 2016 results. We have recently announced the creation of 28 new roles, which have been identified to support our growing business. In addition, we are looking to expand our research and innovation team to ensure we take our products to the next level over the coming months."

About Prepaid Financial Services: 

Since 2008, Prepaid Financial Services (PFS) has provided multi-award-winning payment technology solutions by offering comprehensive e-money and banking innovation. As a pioneer in the evolution of FinTech, our world-class solutions include e-wallets, physical and virtual prepaid cards, as well as current accounts in the U.K. and the Eurozone. Authorised and regulated by the FCA in the U.K, PFS has passported its e-money license across the SEPA region to enable card issuance throughout the region.

Now, PFS has rapidly expanded into one of the fastest growing card issuers in Europe. With programmes active in a total of 24 countries and growing, PFS has the ability to transact in 22 different currencies. PFS products and state-of-the-art technology platforms are trusted by governments, local authorities, Non-Governmental Organisations, mobile networking operators, banks, and corporates globally.

Some of our Awards: 

The Sunday Times TECH TRACK 100 - 5 years in a row.

Deloitte TECHNOLOGY FAST 50 U.K. Winner - 2 years in a row.

Deloitte TECHNOLOGY FAST 500 EMEA Winner - 2 years in a row.

The Queen's Award for Enterprise: International Trade 2017.

With a Mission to be a global market leader in delivering innovative and customised payment technology solutions and a Vision of efficient e-money solutions made easy, PFS's Core Values encompass Integrity, Innovation, Customisation, Teamwork, and Community. Explore the future of prepaid financial solutions today by visiting our website: https://prepaidfinancialservices.com

Discover more about PFS' next-generation payment solutions by contacting: Sales@PrepaidFinancialServices.com

Join the conversation via our Prepaid Financial Services Social Media communities: https://twitter.com/prepaidfs

https://www.linkedin.com/company/2645957

Media contact information:
Marie O'Riordan, Senior Marketing Manager, Prepaid Financial Services Limited (PFS)
Email: Marie.ORiordan@PrepaidFinancialServices.com
Tel: +353-46-907-9073

Susan Callan, Marketing Manager, Prepaid Financial Services Limited (PFS)
Email: Susan.Callan@PrepaidFinancialServices.com
Tel: +353-46-907-9173 / +44-207-405-8405