myPOS receives EMI licence from the Central Bank of Ireland

Wednesday 21 September 2022 12:22 CET | News

UK-based fintech myPOS has become authorised as an Electonic Money Institution (EMI) by the Central Bank of Ireland.


Providing point-of-sale payment acquiring and payment solutions to SMEs in over 30 countries across Europe, myPOS is planning to expand its Dublin-based team, company representatives stating in their press release that the EMI authorisation will help them bring all regulated services under the myPOS Group umbrella.

The myPOS EMI authorisation follows the company’s plan on expansion, with a second store and experience centre wished to be opened in France, an addition to the stores which have been opened earlier in 2022 in Rome and Bucharest. For 2023, the company plans on continuing their expansion in Dublin where they will be opening an experience centre. 

With myPOS, SMEs can get instant access to their funds with no additional costs applied to their card transactions. The ease of access to funds enables businesses to choose myPOS, the company having approximately 200k POS terminals in circulation and being expected to meet a targeted annual growth exceeding 60% and reach USD 8 million in total payment volume.

myPOS provides in-store, online, and on-the-go payment solutions for micro-businesses and SMEs, helping them accept payments and oversee various aspects of their business, such as remote selling, cash flow acceleration, and ecommerce enabling. The platform helps business owners sell globally, as they receive a free multicurrency merchant account and dedicated IBAN per currency, a business debit card, and digitised business management capabilities.

myPOS has become authorised as an Electonic Money Institution (EMI) by the Central Bank of Ireland.

Recent myPOS developments

In June 2022, myPOS launched their business-in-a-box platform with a full stack of integrated business solutions, aimed at improving SMEs efficiency and cash flow. By having a partnership with financial institutions and business-application developers, as well as having internal product innovation, the company carried out new services that would enable SMEs growth. 

To help businesses secure the capital needed for development, myPOS partnered up with financial institutions to introduce its loan functionality that helps deliver a fast approval process, as well as automatic and flexible repayment options. An additional tool was also introduced, myPOS Payment Tag, consisting of a customisable web page which allows customers to pay with their preferred payment method in a matter of seconds.

In August 2021, myPOS first introduced myPOS Online service, offering features that integrate with the myPOS ecosystem and allow merchants to keep sales and payments synced on all channels. Some of the features integrated into myPOS Online are pre-designed store templates, hosting, customisation, inventory tracking, secure checkout, shipping options, and in-store pickup.

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Keywords: payments , online payments, payment methods, expansion, e-money, EMI licence, ecommerce, POS
Categories: Payments & Commerce
Companies: Central Bank of Ireland, myPOS
Countries: United Kingdom
This article is part of category

Payments & Commerce

Central Bank of Ireland



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