SafeCharge Gets Approval for Issuing Activity by MasterCard Europe
- MasterCard Europe granted the company the ability to issue pre-paid MasterCard products opening the doors for the firm to expand its range of services to its clients and seek new growth opportunities.
A regulatory filing by publicly listed provider of payment services, SafeCharge International Group Limited, (LON:SCH) revealed that the company has been granted approval for Issuing Activity from MasterCard Europe.
After the firm becomes a Principal Member, SafeCharge will be able to start issuing pre-paid, co-branded MasterCard products. The move will provide SafeCharge's clients the opportunity to provide clients of the company with a new withdrawal method, by transferring funds from their accounts to a pre-paid card.
SafeCharge International Group’s (LON:SCH) CEO, David Avgi, shared in the company announcement, "The extension of our MasterCard Principal Membership is another achievement for SafeCharge. The approval enables us to issue our own and co-branded pre-paid cards and is a significant step in building a new pillar to our business.”
Earlier this year, the company was granted a VISA Europe Principal Membership status, while in September SafeCharge International Group (LON:SCH) got authorized by the Bank of Cyprus to issue electronic money. The move led to full compliance with existing EU regulations in accordance with the European Union Electronic money directive, with passporting of Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term across the continent.
The firm has also appointed a new Executive Vice President of its Card Issuing Division. Mr Ali Farid Khwaja CFA will join the Company in February 2015, from his position as Financial Technology Analyst at Berenberg, where he specialized in the Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term space.
Prior to Berenberg, Ali was responsible for investments in emerging markets and a Technology Analyst at UBS.
A regulatory filing by publicly listed provider of payment services, SafeCharge International Group Limited, (LON:SCH) revealed that the company has been granted approval for Issuing Activity from MasterCard Europe.
After the firm becomes a Principal Member, SafeCharge will be able to start issuing pre-paid, co-branded MasterCard products. The move will provide SafeCharge's clients the opportunity to provide clients of the company with a new withdrawal method, by transferring funds from their accounts to a pre-paid card.
SafeCharge International Group’s (LON:SCH) CEO, David Avgi, shared in the company announcement, "The extension of our MasterCard Principal Membership is another achievement for SafeCharge. The approval enables us to issue our own and co-branded pre-paid cards and is a significant step in building a new pillar to our business.”
Earlier this year, the company was granted a VISA Europe Principal Membership status, while in September SafeCharge International Group (LON:SCH) got authorized by the Bank of Cyprus to issue electronic money. The move led to full compliance with existing EU regulations in accordance with the European Union Electronic money directive, with passporting of Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term across the continent.
The firm has also appointed a new Executive Vice President of its Card Issuing Division. Mr Ali Farid Khwaja CFA will join the Company in February 2015, from his position as Financial Technology Analyst at Berenberg, where he specialized in the Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term space.
Prior to Berenberg, Ali was responsible for investments in emerging markets and a Technology Analyst at UBS.