London FinTech starts Brexit preparations with EU office
London FinTech firm PrePay Solutions (PPS) has been granted an E-Money Licence from the National Bank of Belgium (NBB) and has opened an office in Brussels.
The firm, a digital banking and payment services provider, currently serves over 200 clients across 30 countries and processed more than 1.6 billion transactions worth $35 billion in 2018.
Its latest licence will enable the company to continue powering FinTech companies residing in the EU regardless of the outcome of the UK Brexit negotiations.
Following the licence, PPS has opened its “PPS EU” base, located in Brussels, which is supporting PPS’ E-Money, Payment and Mastercard issuing services in the EEA.
“Even before the UK referendum vote in 2016 it was clear that being part of the European payments space was crucial for PPS and our clients,” said Ray Brash, CEO, PrePay Solutions.
“A large part of our business is in the EU and this market has massive opportunities and digital payments will continue to grow for many years. Our decision to establish an office in Brussels and obtain our issuing licence was a natural extension of this strategy.
“It’s often said that certainty is critical for business and PPS can now give certainty to its clients. Of course we welcome prospective customers looking for issuing and processing services within the EEA zone and I encourage those with concerns around Brexit to contact us.”