Our original deal was on track to close, until recent weeks when COVID-19 started to have an impact on global stock markets. With share prices plummeting around the world, the value of FinTechs was similarly affected. Luckily, we had built a solid, profitable business over the past 12 years thanks to the dedication of our entire team. In light of the current worldwide business reality, I believe we have achieved a great result for everyone involved. We are eager to play a pivotal role in complementing EML’s sizeable international and diversified electronic money portfolio.
PFS, an agile and Dual Regulated 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 consumer and business current accounts in the UK and the Eurozone.
PFS is one of Europe’s largest eMoney issuers and has returned profits for 11 consecutive years. With programmes active in 25 countries and growing, the company has the ability to transact in 23 currencies. PFS’ products and state-of-the-art technology platforms are trusted by 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.