3 Jun 2015 07:00
SafeCharge International Group Limited
("SafeCharge", the "Company", or the "Group")
Strategic partnership and investment
SafeCharge (AIM: SCH), the global provider of payments services, technologies and risk management solutions for online and mobile businesses, announces that it has agreed to enter into a strategic partnership with German based FinTech Group AG ("FinTech") which is listed on the Frankfurt Stock Exchange (FLA.GR).
Under the partnership, SafeCharge will work with FinTech's BIW Bank subsidiary to develop banking services offerings in areas including banking transaction services, mobile payments and debit cards. BIW Bank is a full service bank with over €1.3 billion of customer deposits. SafeCharge will use BIW Bank's platform to offer a full suite of banking services to its client base. BIW Bank will be one of the partner banks for the Company's launch of its PAY.COM consumer mobile payment wallet and digital account in Germany. As part of the strategic partnership SafeCharge has invested approximately €10 million for a 5% equity interest in FinTech.
David Avgi, Chief Executive Officer of SafeCharge, said:
"Safecharge's portfolio of services and products will be enhanced by the strategic partnership with FinTech Group. The partnership marks another step in our strategy to create a new generation of financial services and payments for a global customer base. The business we are building is expanding into new geographies, market verticals and services, increasing our presence throughout the payments system. Our investment in FinTech underscores the importance of the partnership to the Group and our commitment to growth."
Frank Niehage, Chief Executive Officer of FinTech, added:
"Our subsidiary XCOM is one of the leading technology providers for banks and financial institutions and XCOM's subsidiary BIW bank is the outsourcing and white label banking partner of choice for many German banks as well as for many newly established fintech start-ups. Based on our technology expertise and regulatory platform, we will be able to help SafeCharge to jumpstart new business lines by offering their retail and corporate customers European-wide comprehensive banking services opportunities."
- Ends -
For more information:
SafeCharge International Group Limited David Avgi Ali Khwaja
| +44 (0) 20 3051 3031 |
Shore Capital Pascal Keane Toby Gibbs
| +44 (0) 20 7408 4090 |
Bell Pottinger David Rydell Olly Scott James Newman
| +44 (0) 20 3772 2500 |
About SafeCharge
SafeCharge International Group Limited is a global provider of payments services, technologies and risk management solutions for online and mobile businesses. The SafeCharge Group has a diversified, blue chip client base and is a trusted payment partner for customers from various e-commerce verticals. SafeCharge has been Payment Card Industry Data Security Standard ("PCI-DSS") Level 1 certified since 2007 and is listed on the London Stock Exchange AIM market (LSE: SCH). The Company's wholly owned subsidiary, SafeCharge Limited, is an authorised Electronic Money Institution regulated by the Central Bank of Cyprus, and a principal member of MasterCard Europe and Visa Europe. The SafeCharge Group has operations in the UK, Cyprus, Bulgaria, Israel, Germany, Austria and Ireland.
www.safecharge.com
About FinTech Group AG
FinTech Group AG is one of Europe's leading financial services technology companies with two pillars: online retail banking and brokerage business under own brands (B2C); and white label banking business for third parties (B2B).
In the B2C segment, the business's core brand is FLATEX with approximately 150,000 private clients and assets under administration of approximately €4.8bn. The B2B business comprises XCOM Group (www.xcom.de), one of the most successful providers of software and technology solutions for banks and financial services companies in Europe, with more than 250 clients. The XCOM subsidiary BIW Bank (www.biw-bank.de) is licensed by the German BaFin to provide the full range of banking services and is affiliated to the Deposit Insurance Fund (Einlagensicherungsfonds) of the Bundesverband deutscher Banken e.V. (Federal Association of German Banks). For more than 20 years, XCOM Group has been one of the most important technology and outsourcing partners of the German banking industry and today is also one of the most successful partners of Germany's rising fintech industry.
www.fintechgroup.com