In a major breakthrough, European Playtech firm ‘payable.’ has received an Electronic Money Institution (EMI) license to operate in Cyprus, allowing it ease of entry into the larger EU market. This is just recently after the firm got an EMI license from the Financial Conduct Authority purposed for operations in the UK and other related territories.
Unlocking Opportunities
The scope of EMI license in Cyprus has many strengths – opening up the EU market, favorable tax conditions, and availability to a wide range of international professionals. Being a certified and regulated EMI, payabl. now can provide SEPA payment solutions by taking advantage of its strategic location as a transcontinental trading spot between Asian and European countries.
payabl. CEO Statement
With the new license in Cyprus, payabl.’s CEO Ugne Buraciene expressed her thoughts on their trajectory of growth by saying “We’re thrilled to be expanding our presence in the UK with an acquisition of an EMI authorisation” and now they are well-positioned for further expansion into European markets.
Expansion Plans
After obtaining the license from EMI, it is reimbursable. In particular, this article discusses interests and concerns of the organization in regard to hiring more personnel for further growth that the increase would follow in its merchant portfolio. to expand its payment touchpoints across the European Union, which makes it realize its dream as one of the key players in Europe’s fintech market.
Taking off Point onto the High Side
The fact that Payabl. has managed to secure the EMI licenses in both the UK and Cyprus is a reflection of its commitment to following regulatory measures as well continue offering trustworthy financial products. With the firm getting ready for European expansion, these licenses will be very instrumental in promoting trust in MPCBD and ensuring that it penetrates new markets with ease.
In its concluding remark, the acquisition of an EMI license in Cyprus is a major turning point for payabl., which directly introduces further stages of growth and expansion plans aimed at entering wider European markets.
About payabl.
payabl. is one of the most trusted payment providers and acquirers that strive to empower merchants’ proliferation by enabling cross-border transactional simplicity, safety, and convenience. The company provides a powerful transaction management system for risk and fraud that has its PCI-DSS level 1. In summary, the services offered by Payabl are much more than just online payments and include card payments; hence it is a complete platform for businesses.
Started in 2011 by Ayelet, Payabl has grown to be a multifunctional payment-accepting solution for firms and is battling effectively with numerous companies in fintech. At present, Payabl has diversified its service provision by introducing a new point of sale (POS) product for offline operations in retail stores to improve on their omnichannel payment solutions. This shows the company’s determination to innovate and satisfy the emerging needs of merchants across various parts of the world.