PFS Teases Product Additions to Let FinTechs Compete with Banks

PFS (a company of EML) is excited to highlight a range of product enhancements designed to accentuate the competitive advantage of disruptive FinTechs aware of Banking-As-A-Service (BaaS) trends in the European Economic Area.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200924005370/en/

PFS is working with FinTechs & Banks to disrupt Financial Technology (Graphic: Business Wire)

SEPA Direct Debit (SDD) will enable clients across the EEA to take on traditional banks through PFS’ licenses with the Financial Conduct Authority (FCA) and the Central Bank of Ireland (CBI). Additionally, the company announces that SEPA Instant Credit Transfer (SCT Inst) is just around the corner.

”Financial Technology is a fiercely competitive space and BaaS allows FinTechs to compete with established banks but conversely, we also enable established banks to take advantage of new technologies that can run independently or in conjunction with their core banking platforms. What we recognise is that both banks and FinTechs want their partner to be product-focused with the objective of improving customer experience and providing additional services that the customer will value,” noted Lee Britton, CCO at PFS (a company of EML).

”We take pride in innovation whilst maintaining our commitment to stability and security within the PFS platform. By adding SEPA Direct Debit capability and SEPA Instant Credit Transfer, we want to enable partners to offer an even better service in multiple markets to their end customers.”

PFS is a payments service provider who adheres to the SEPA Credit Transfer (SCT), SEPA Instant Credit Transfer (SCT Inst) and SEPA Direct Debit (SDD) core payments schemes.

About PFS (a company of EML) (ASX: EML)

PFS, an agile FinTech, is a Payment Provider of Choice delivering robust payment technology solutions and offers world-class innovation in electronic money. A pioneer in the evolution of the FinTech ecosystem, PFS’ award-winning solutions include eWallets, physical and virtual prepaid cards, IBAN accounts and prepaid consumer and business current accounts in the UK and Eurozone.

PFS is one of Europe’s largest eMoney issuers and has returned profits for 12 consecutive years. With programmes active in 28 countries and growing, the company has the ability to transact in 25 currencies. PFS’ products and state-of-the-art technology platforms are trusted by Fintechs, Governments, Local Authorities, Non-Governmental Organisations (NGOs), Mobile Network Operators (MNOs), Traditional Banks and a comprehensive list of Corporates.

PFS is chosen by other FinTechs to revolutionise the digital economy in real-time. The company develops a range of trendsetting mobile payment and wearable solutions securely and seamlessly by providing quick and easy integrations into mobile payment applications.

Discover more about PFS’ next-generation payment solutions by connecting with [email protected]

Explore the future of prepaid financial solutions today, as the world moves towards a cashless society tomorrow, by visiting:

https://prepaidfinancialservices.com

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View source version on businesswire.com: https://www.businesswire.com/news/home/20200924005370/en/

Contacts

Marie O’Riordan MPRCA MAM
Head of PR
PFS (a company of EML)
Email [email protected]
Tel +353 46 94 2010 9

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