Irish fintech PFS bags local licence prepping for Brexit

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Ireland-based fintech firm Prepaid Financial Services (PFS) received a licence from financial regulator Central Bank of Ireland, which makes the company “Brexit-ready”, according to a press statement by the company.

The payment operator and prepaid card issuer is also licensed by the United Kingdom’s financial watchdog; the Financial Conduct Authority. This means that PFS will continue to operate as usual throughout the European Economic Area post-Brexit, the company says.

“The future looks even brighter now for PFS with this announcement. It 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,” says Noel Moran, CEO at PFS.

The company operates from the Innovation Hub in Ireland and its Technology Centre in Malta.