PFS Expands Banking Services across Eurozone (Jan. 11, 2016)
As U.K. banks begin offering no-frills accounts that could compete with prepaid products, London-based prepaid specialist Prepaid Financial Services (PFS) is looking to elbow further onto traditional banks’ turf by expanding its banking offerings across the Eurozone. Paybefore Award-winning PFS is an e-money issuer offering prepaid, acquiring and alternative banking solutions. The company was one of the first in the U.K. to offer prepaid customers banking services, such as credit and debit transfers and standing orders. Now, that functionality is available throughout the entire Eurozone, with PFS clients now able to provide end users with IBANs that enable basic bank account functionality across borders.
Recently named one of the top 25 fastest-growing technology companies in the U.K. by the Sunday Times for the third consecutive year, PFS markets its platform to government bodies, credit unions and digital banks that want to offer banking services to their e-wallet and prepaid customers. Fresh off a record-breaking 2015 during which it saw 50 percent growth, PFS is considering a possible IPO, according to the company.