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Today ClickandBuy announces that is has been granted an "Electronic Money" licence by the UK's Financial Services Authority (FSA).
Becoming an issuer of eMoney gives ClickandBuy considerable flexibility to move money across the web for the benefit of customers and web merchants. Whether it be secure online payments, refunds, money transfers or loading a prepay Wallet, customers can be reassured that ClickandBuy is authorised and regulated. The FSA regulates eMoney institutions in similar ways to the banks. For example, customer funds are covered by a regulated float of liquid assets and ClickandBuy's own capital.
Being licensed to issue eMoney opens up many new markets to ClickandBuy. e.g.:
- Person to person payments to facilitate individuals buying and selling online
- An online wallet for punters to use at multiple betting or gaming sites
- Allowing the use of cash to buy online
- A prepay card for those excluded from credit
Norbert Stangl, founder and CEO of ClickandBuy said: "Being licensed to issue Electronic Money is a major milestone in our company's history. Having the ability to manage money movements to banking standards is a significant step forward. This latest innovation will herald further explosive growth for our company over the coming years."
Taking Back Control from BT and Announcing New eMoney MD
ClickandBuy announces the completion of a major migration of 750,000 UK customers from BT as it takes back control of the UK operation. BT had previously held the UK license and had run the service in the UK as BTClick&Buy since March 2002.
David Hunter has been appointed as Managing Director of the ClickandBuy eMoney business and the new UK operation. Previously he was BT's head of ePayments and Sales & Marketing Director of BT's Business Process Outsourcing unit.
On his appointment, David Hunter said, "We are now able to offer a variety of new services and features, which combine the financial security of the banking world with the speed and agility of the internet."
About the BT relationship he adds "BT is still a great partner for us. It is a big user of the service, a reseller for us in the media sector and continues to provide a unique link to the BT phone bill."
14.12.2006, ClickandBuy (Europe)
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