LONDON, September 16, 2014 /PRNewswire/ --
SafeCharge (AIM: SCH), a leader in advanced payment technologies, today announces that its wholly owned operating subsidiary, SafeCharge Limited, has been authorised as an Electronic Money Institution (EMI).
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."
SafeCharge International Group Limited is a global provider of payments services, risk management and IT solutions for online businesses. The SafeCharge group has a diversified, blue chip client base and is a trusted payment partner for customers from various e-commerce verticals. SafeCharge has been Payment Card Industry Data Security Standard ("PCI-DSS") Level 1 certified since 2007 and is listed on the London Stock Exchange AIM market (LSE: SCH). The Company's wholly owned subsidiary, SafeCharge Limited, is an authorized Electronic Money Institution regulated by the Central Bank of Cyprus (CBC). SafeCharge Limited is a principal member of MasterCard Europe and of Visa Europe. The SafeCharge group has operations in the UK, Cyprus, Bulgaria, Israel, Germany and Austria.
For more information:
SafeCharge International Group Limited