SafeCharge Limited, a wholly owned operating subsidiary of online payment provider SafeCharge, has been authorised as an Electronic Money Institution (EMI).

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The authorisation will allow SafeCharge Limited to issue electronic money in accordance with the European Union E-money directive and as authorised by the Central Bank of Cyprus.

This will enable SafeCharge to continue expanding its services portfolio to its existing client base; increase services in the B2C space and progress plans for card issuance and associated services.

David Avgi, CEO of SafeCharge, said: "Obtaining the EMI license fulfils one of our central objectives, as outlined in our strategy. The EMI license places SafeCharge in a key position to capitalise on the expansion of e-wallets, mobile wallets and prepaid card issuance globally."

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