SafeCharge wins payment approval from UK’s FCA

SafeCharge Financial Services Limited, the UK subsidiary of SafeCharge, has been authorised as a payment institution by the Financial Conduct Authority (FCA).

The new authorisation will now enable SafeCharge Financial Services Limited to provide its payments services in the UK, in accordance with payment services regulations.

SafeCharge will also be able to expand its service offering to both existing clients and to new clients, as well as future proof the business post-Brexit and potential changes to the passporting rules.

The approval is in addition to SafeCharge Limited’s existing authorisation as a ‘European Electronic Money Institution’.

David Avgi, chief executive of SafeCharge, said: “Obtaining the Payment Institution licence from the FCA fulfils one of our central objectives, as outlined in our strategy.

“It is also an independent endorsement of our best practices in risk management, KYC, AML and compliance and is testament to our high operational standards.

“This license places SafeCharge in a key position to capitalise on the expansion of its business and services in the UK market and other EEA members.”

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