PFS bags Irish licence for Brexit contingency plan
Prepaid Financial Services (PFS) has secured an electronic money license from the Central Bank of Ireland, as it gets ready for a Brexit contingency plan.
PFS is one of Ireland’s largest issuers of payment cards, and it has now been licensed by both UK’s and Ireland’s regulators.
Noel Moran, CEO at PFS said: “This 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. We look forward to enjoying an excellent working relationship with the Central Bank of Ireland in the years to come.”
This means that PFS will continue to operate as usual throughout the European Economic Area after Brexit.
Just a month ago in March, PFS acquired the physical prepaid card portfolio of Barclaycard in the UK and migrated it onto its own platform.