CAB Payments Holdings PLC Granting of European Licence
April 04 2024 - 2:00AM
RNS Regulatory News
RNS Number : 2997J
CAB Payments Holdings PLC
04 April 2024
CAB
Payments Holdings PLC
04
April 2024
CAB Payments Holdings
plc
("CAB
Payments", or the "Group")
Granting of European
Licence
CAB Payments announces that its
Dutch subsidiary has secured a payment service provider licence
with De Nederlandsche Bank N.V. (DNB). This
entity will be eligible to provide services across the
European Economic Area (EEA) under the passporting regime.
This is one of the operational and strategic initiatives that
underpin the Group's growth aspirations for 2024 and beyond.
CAB Payments is confident that being able to provide services
across the EEA will bring significant opportunity for the business
and for the clients and the markets it serves. The Dutch
licensed firm will be based in The Netherlands and will operate
under the name of CAB Payments Europe.
Bhairav Trivedi, Chief Executive
Officer of CAB Payments, commented:
"I am delighted that CAB Payments
Europe has received this approval from such a respected regulator
within the EEA. The Company is committed to the highest
standards of compliance and client service. This is a
significant step in the expansion of the business and presents a
substantial growth opportunity. We have long seen Europe as
an important market for the Group. We look forward to
engaging with potential clients, to move money where it's
needed."
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