Wednesday 30th August 2017 - Payment Card Solutions (PCS) is granted Authorised Payment Institute (API) status by the Financial Conduct Authority (FCA).
PCS services over 700 corporate customers, issuing hundreds of thousands of prepaid cards across Europe. This new status will enable it to further enhance its product set and expand operations by offering additional payment services under its own licence whilst expanding the core functionality contained within its in-house software platform.
“We will continue to maintain our excellent relationships with our e-money bin sponsorship partners and continue to grow the prepaid side of our business but this new status gives us increased access to the value chain and to offer additional payment services including bill payments to our wide ranging customer base. This is an exciting period of growth for PCS as our main products have grown by over 200% in the last year and we are looking to expand further in 2018. Obtaining FCA authorisation was a natural next step for PCS as many of the processes required have been in place for many years, however we would like to thank Neopay for their support in helping with the application” - Paul Swinton, CEO
PCS also recently joined industry body, the Prepaid International Forum (PIF) and will play its part in helping shape both prepaid and fintech for the future.
About Payment Card Solutions
PCS is the UK's most trusted prepaid payment card specialist, providing systems, compliance and customer services teams to operate some of the UK's most successful prepaid card programs.
Since our inception in 2006 we have grown to be one of the UK's most respected prepaid specialists. We combine industry knowledge and IT expertise to offer the best prepaid solutions in Europe. We have an open API and can help you integrate prepaid into your business.
PCS is now authorised by the Financial Conduct Authority as a Payments Institute under registration 777613.