Noel Moran, CEO of Prepaid Financial Services (PFS) will be award the “2019 European Entrepreneur Award” for the second time. He is the only person to ever win the award twice, let alone in back to back years!
The 2019 European Entrepreneur of the Year Award is presented by the European CEO magazine. The magazine’s readers, made up of c-suite executives in 28 countries, are invited to submit and vote each year on the nominees.
In additional news this week, PFS announced its sale to EML Payments, which is based in Australia for A$423 million (US $290.01 million). With this acquisition EML is projected to become one of the largest Fintech enablers in digital banking and prepaid globally.
This move further diversifies EML’s footprint – providing entry into eight new markets and further penetration into the U.K., France, and Spain. EML Payment’s currently has offices in Australia, Canada, Puerto Rico, the United Kingdom, the Nordic’s and the United States (Austin, TX). The CEO, is Tom Cregan, former EVP of NetSpend.
Prepaid Financial Services, which was granted an e-money license by the Central Bank of Ireland and already had a license by the Financial Conduct Authority in the U.K., operates in 25 countries, offering e-wallets, physical and virtual prepaid cards, and IBAN accounts in the U.K. and eurozone.
The deal is expected to complete early next year.
Overview by Sue Brown, Director, Prepaid Advisory service at Mercator Advisory Group