SafeCharge International Group Ltd SafeCharge Granted Payment Institution License (8065B)

TIDMSCH

RNS Number : 8065B

SafeCharge International Group Ltd

15 January 2018

SafeCharge International Group Limited

("SafeCharge", the "Company" and together with its subsidiaries, the "Group")

SafeCharge Granted Payment Institution License by the FCA

SafeCharge (AIM: SCH), a leader in advanced payment technologies, today announces that its wholly owned UK subsidiary, SafeCharge Financial Services Limited, has been authorised by the Financial Conduct Authority (the "FCA") as a Payment Institution. This in in addition to SafeCharge Limited's existing authorisation as a European Electronic Money Institution.

The authorisation will allow SafeCharge Financial Services Limited to provide payments services in the UK in accordance with the Payment Services Regulations. It will enable SafeCharge to continue expanding its services portfolio to its existing client base and to new clients, as well as future proofing the business post Brexit and potential changes to the passporting rules.

David Avgi, CEO of SafeCharge, commented:

"Obtaining the Payment Institution license 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. Our merchants now have the additional validation and confidence provided by the FCA authorisation.

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."

- Ends -

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries

 
 SafeCharge International 
  Group Limited 
  David Avgi, Chief Executive 
  Officer 
  Tsach Einav, Chief Financial 
  Officer 
  c/o FTI Consulting              [phone] 
 Jean Beaubois, Head of 
  Investor Relations              [phone] 
 Shore Capital 
  Mark Percy 
  Toby Gibbs                      [phone] 
 FTI Consulting 
  Matthew O'Keeffe 
  Elena Kalinskaya                [phone] 
 

About SafeCharge

SafeCharge International Group Limited (AIM: SCH) is the payment service partner for the world's most demanding businesses. SafeCharge provides global omni--channel payments services from card acquiring and issuance to payment processing and checkout, all underpinned by advanced risk management solutions. This fully featured proprietary payment platform connects directly to all major payment card schemes including Visa, MasterCard, American Express and Union Pay as well as over 150 local payment methods. With offices around the world, SafeCharge serves a diversified, blue chip client base and is a trusted payment partner for customers across a range of vertical markets. The Company has been listed on the London Stock Exchange AIM market since 2014.

www.safecharge.com

This information is provided by RNS

The company news service from the London Stock Exchange

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January 15, 2018 02:00 ET (07:00 GMT)