UK fintech Dojo secures an EMI licence in Ireland

Wednesday 29 November 2023 11:43 CET | News

UK-based Dojo, a trading name of Paymentsense Ireland Limited, has been granted its e-money licence (EMI) from the Central Bank of Ireland

This licence, which provides in-person and digital payment solutions, also enables the company to bring its payment technology to Ireland. Following this announcement, Dojo will support Irish businesses to capitalise on the fast-growing Experience Economy. 

Dojo is based on a cloud-native payment platform and its data-driven insights help businesses to thrive in the Experience Economy. 

Dojo has been granted its e-money licence (EMI) from the Central Bank of Ireland.

Dojo’s cloud-native payments infrastructure

The fintech company already serves over 150,000 UK businesses, from small, often family-run businesses to some of the biggest high street names in the EU. In addition, in the UK market, Dojo has achieved a 48% year-on-year growth in its customer base and intends to continue to support business growth in the UK and across Ireland.

Moreover, in 2022 Dojo processed over 1.6 billion card transactions in the UK, demonstrating the impact its cloud-native payments infrastructure is having on its customer base.

Paymentsense Ireland Limited officials said that the license that has been granted supports their plan of expanding Dojo in Ireland. Moreover, Dojo’s market growth in the UK follows the customer-oriented policy of the bank, empowering hard-working businesses.

Experience as the key role in the global economy 

In October, Dojo launched ‘Dojo Pocket’, a new card machine the same size as a modern smartphone and ergonomically fits into a server’s pocket, designed to help the restaurant business grow through technology benefits. Dojo Pocket enables servers to process orders and payments from guest tables and offers customers the option to pay there and then.

A popular narrative suggests that 78% of today's millennials choose to spend money on a desirable experience over something material, a trend that has effects on the global economy and traditional business models. The forecast for the future stakes that the most successful companies in ten years will be the ones that create human experiences due to the reinvention of retail spaces. Moreover, new models of engagement involve understanding experiences as the most important form of marketing.

The same principle applies to banks, payment and digital markets. In the hybrid model of banking, digital channels will focus on improving efficiency translated into fast transactions, few clicks, easy navigation, 24x7, etc. Physical channels, meanwhile, will focus on relationships and engagement so customers come away feeling that they spent their time well. 

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Keywords: fintech, banking license, transactions , cloud, digital payments
Categories: Payments & Commerce
Companies: Central Bank of Ireland, Dojo
Countries: Ireland
This article is part of category

Payments & Commerce

Central Bank of Ireland



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