PrePay Solutions (PPS), a provider of prepaid services and subsidiary of Edenred, has announced the firm has been granted an operational e-money licence from the National Bank of Belgium (NBB).
Consequently, PPS opened a new “PPS EU” base office in Brussels to serve those in the european economic area (EEA) and CEO Ray Brash described the move as a “natural extension” of its long term strategy.
Brash explained: “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.
“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.”
UK-based PPS serves over 200 clients across 30 countries around the world, processing in excess of 1.6 billion transactions worth $35 billion in 2018.
Obtaining the e-money license will enable PPS to continue operations in the EU regardless of the final outcome of the UK’s Brexit negotiations.
Brash concluded: “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.”
