FOR IMMEDIATE RELEASE
Andrea Dunlop, CEO of Acquiring & Card Solutions at Paysafe Group, a leading global provider of payment solutions, is lobbying the Government to make financial and card scheme passporting an early priority of the Brexit negotiations, as Theresa May triggers Article 50.
Calling at the same time for the £6bn* Fintech sector to play to its strengths, Andrea said, “UK Fintech is innovative, nimble and disruptive by its very nature. Now, more than ever, the sector needs to play to these strengths.
“It can’t be denied that Brexit provides opportunities both in terms of global markets opening up and where there are regulatory regimes the UK can fast track into. At Paysafe we’ll obviously be following the Brexit negotiations closely to identify new market prospects and be ready to act as they arise.
“Skills shortage scaremongering is not helpful given the massive non-EU talent pool that remains available to us, and the fact the government has already stated it will allow migration where such shortages exist.
“Energies instead should focus on passporting, which must be addressed early and decisively as part of the UK Government Brexit negotiations. An open market and unrestricted passporting is critical to preserving the value of Fintech to the UK economy.
“However, the next two years of negotiations must not distract UK Fintech companies from serving their existing core markets. Despite today’s Brexit milestone, it is business-as-usual tomorrow for our £6bn* sector and its 60,000* UK employees.”
*HM Treasury estimates: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/502996/UK_FinTech_-_On_the_cutting_edge_-_Exec_Summary.pdf
For more information: EPA’s Passport to the Future White Paper analyses the options available to UK-based FinTech companies, should they lose their EU passporting rights following the UK’s imminent exit from the European Union: http://emergingpayments.org/2017/02/08/passport-to-the-future-options-for-regulated-companies-to-access-eea/
Paysafe provides digital payments and transaction-related solutions to businesses and consumers around the world. Paysafe is redefining payments by enabling fast, convenient and secure ways to pay before, pay now and pay later through its payment processing, digital wallets, prepaid solutions and card issuing, and acquiring products and services. We believe that every point of every payment should be relevant, simple and secure. With two decades of experience, Paysafe is trusted by businesses and consumers to move and manage money through more than 100 payment types and 40 currencies. Paysafe offers multi-platform products with an emphasis on emerging payment technologies including mobile. Paysafe's brand portfolio includes NETELLER® and Skrill®, MeritCard, paysafecard®, payolution®, Income Access and FANS Entertainment. Paysafe Group plc shares trade on the London Stock Exchange under the symbol (PAYS.L). For more information, visit: www.paysafe.com.
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