ISX Financial EU Plc authorised to include payment initiation services

The Central Bank of Cyprus has granted ISX Financial EU Plc an extension of its regulatory authorisations to include Payment Initiation Services (PISP), where such services are closely related to the issuance of electronic money.

“This significant regulatory milestone allows ISXFEU to expand its service offerings within the European Economic Area (EEA) and aligns seamlessly with our UK-based www.paidbybank.com service,” ISX said. “The extension of regulatory authorisations to provide Payment Initiation Services enhances our ability to cater to the evolving needs of our customers and further entrenches our position as a leading regional financial institution.”
With this additional authorisation, ISXFEU is now well-positioned to provide innovative and efficient payment initiation services that enable its customers to initiate secure and seamless electronic money transactions within the EEA, it added.

Nikogiannis Karantzis, the CEO ISX Financial, said: "We are excited to build upon our UK based www.paidbybank.com service and extend this to our clients across the EEA. The close coupling of electronic money and open banking, together with our API based transaction notification service means that PaidBy Bank is a true substitute for online card scheme based payments."
ISX Financial EU PLC is a 'banktech' company that leverages its own in house developed technology and payments infrastructure to provide financial services to merchants across the EEA & UK. The company's combined payments stack and infrastructure provides a complete end-to-end identity verification, transactional banking, FX, remittance, payment processing with bets of class AML capabilities. ISX Financial operates as ISEMCY22 in the EEA and ISFIGB22 (Sort 041392) in the UK.