PayscoutInc. has announced the opening of its new Malta office with Mike Norton namedManaging Director. Payscout recently received preliminary approval of theirPayment Institution (PI) license which will allow them to operate as a paymentfacilitator in the European Union.
(LosAngeles, CA) December 14, 2016 – Payscout Inc., a leading global payment processing provider (http://www.payscout.com/), has announcedits newest office location in Malta, expected to open in the coming weeks. Theannouncement comes after Payscout received preliminary approval for its PaymentInstitution (PI) License, allowing the company to function as a PaymentFacilitator in the EU. Payscout adds Malta to its other five office locations,including California, Georgia, New Jersey, Brazil, and China.
The PI licenseis an authorization required by all payment providers to allow businesses andconsumers to make payments safely and efficiently. It was aimed to remove legalbarriers to the provision of payment services in the EU. (1) Per the EuropeanPayment Institutions Federation, the PI license was put into place for 5 mainobjectives:
- Achieve a single payment market in the EU;
- Provide the regulatory framework for a single payment market;
- Create a level playing field and enhancing competition;
- Ensure consistent consumer protection and improving transparency; and
- Create the potential for more efficiency of EU payment systems.
The licenseenables payment providers to, among other things, execute transactions as wellas issue and acquire payment instruments.
Payscout (http://www.payscout.com/) CEO, ClevelandBrown, said, “Securing our PI license is the next step for Payscout to servebudding entrepreneurs and consumers in the EU. We are excited to have obtainedpreliminary approval, which will enable Payscout to continue its globalexpansion, and help emerging business owners achieve the entrepreneurial dreamone transaction at a time.”
Mike Nortonhas been hired as Managing Director of Payscout’s soon-to-open Malta office,and will also oversee the company’s Go Global Now initiative, including anaggressive European expansion. Norton brings over 20 years of experience in thepayments industry and has led both systems integration projects and clientmigration projects for large multinational businesses and systems solutioncompanies across Europe. His experience in merchant acquiring covers all cardtypes, including credit/debit, alternative payment options and prepaidsolutions, as well as full back-office processing and solutions from credit andrisk, chargebacks, terminal requirements and terminal support, accountboarding, fraud and account management.
Norton, whoalso has experience in business strategy, adds, “When a company like Payscoutestablishes a meaningful presence in a European business hub such as Malta,they know the impact will be more than just opening an office and hiringemployees. Payscout is known for engaging with the people around them andfinding ways to serve and enhance the community.”
Payscout’songoing global expansion has empowered entrepreneurs across the world. Payscoutenables these businesses to expand by providing them with payment processingsolutions needed to take their ecommerce business across local borders. At thesame time, Payscout is dedicated to building community connections through eachof its locations by leveraging community outreach and social investmentinitiatives – all part of the company’s PayscoutGives program.
“With our newPI license, Mike’s experience and Payscout’s commitment to cultural and socialempathy, we are confident the new European extension of our Payscout familywill succeed in assisting many entrepreneurs and social causes across the EU,”concludes Brown.
AboutPayscout, Inc.:
“PayscoutSupports the Entrepreneurial Dream One Transaction at a Time.”
Payscout is aglobal payment processing provider covering six continents by connectingmerchants and consumers via credit, debit, ATM and alternative paymentnetworks. What differentiates Payscout is its mission “to support the entrepreneurial dreamone transaction at a time.” Payscout achieves this by being athought leader in the payments industry. Its “GoGlobal Now” technology platform gives merchants instant access to100+ countries, billions of consumers and trillions of dollars. Payscout offerspayment processing solutions for brick-and-mortar and eCommerce transactions,and has earned acclaim as a new-generation provider of merchant bankingservices, specializing in online/eCommerce retailers with a predominantproportion of card-not-present (CNP) transactions; it is one of the fewproviders to deliver a true global payment solution that encompasses allmerchant risk verticals. Customers can access Payscout’s credit card processingservices via a state-of-the-art, web-based user portal and through directinteractions with highly-trained experts. In addition to supporting thousandsof clients across a multitude of industries and all 50 American states,Payscout maintains global partnerships with VISA USA, Bank of America MerchantServices, VISA Europe, VISA Latin America, VISA Asia Pacific, MasterCardWorldwide, China Union Pay, Deutsche Bank, First Data and Payscout Brazil.Payscout was recognized as one of America’s fastest-growing privately-heldcompanies in 2014, 2015, and 2016, ranking #2,416 in 2014, #434 in 2015, and#383 in 2016 on Inc.Magazine’s Inc. 500/5000 list. Within the financial servicesindustry, Payscout placed #140 in 2014 and #24 in 2015. For more information,visit http://www.payscout.com.
- “What Is a Payment Institution?” The Voice of the Payments Industry across the EU – What Is a Payment Institution? N.p., n.d. Web. 12 Dec. 2016.