PFS granted e-money licence by Central Bank

Co Meath-based Prepaid Financial Services (PFS) has been granted an e-money licence by the Central Bank.

The fintech firm, which is one of Ireland's largest issuers of payment cards, said the licence would allow it to continue to operate as normal in the Europe Economic Area once the UK has left the European Union.

"The future looks even brighter now for PFS with this announcement," said Noel Moran, PFS chief executive. It ensures that no matter what happens with regards to Brexit, our business is prepared for all scenarios and there will be no impact to our customers and partners."

PFS is also licensed by the Financial Conduct Authority in the UK.

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Among the company’s payment solutions are e-wallets, physical and virtual prepaid cards and IBAN accounts in the UK and Eurozone

It has active programmes in 25 countries and has the ability to transact in 23 currencies. Among its clients are governments, local authorities, NGOs, mobile network operators and banks.