UK-based PaymentSense obtains an e-money license from Ireland’s central bank
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The United Kingdom’s PaymentSense recently made headlines after it became clear that the company is seeking an Irish e-money license in order to expand, not only to be able to legally operate throughout Ireland but also as a way of entering the rest of the EU. Now, the firm finds itself under the spotlight as Ireland granted it the license.
Benefits of scoring the Irish e-money license
PaymentSense is a merchant services provider that offers various card payment solutions for small and medium-sized enterprises (SMEs). The company will enter the Irish market under the Dojo trading name following the successful securing of the e-money license.
Specifically, the company already had a presence in Ireland, so it does not have to build its infrastructure from the ground up. However, the new license will open up new possibilities for the firm and allow it to expand its service offering to cover other e-money financial businesses, including Square, SumUp, and Stripe, all three of which are also holders of the same license.
It is also worth saying that Dojo currently serves more than 150,000 businesses throughout the UK, with reported revenue exceeding 278 EUR in the fiscal year that ended on March 31, 2023.
After Brexit, the UK found itself outside of the EU, and the same is true for its companies. But accessing Ireland will change that for PaymentSense, which will make the country its new EU headquarters and plan further expansion, eventually leading to its spreading its services across the continent.
PaymentSense to continue focusing on innovation and customer satisfaction
PaymentSense Ireland’s CEO, John Irwin, commented on the new developments, stating that the company’s success in the UK was built on customer obsession and innovative technology. He noted that the firm will apply the same approach in Ireland to ensure that its clients are satisfied, and that their needs are always met first. After that, the same will be true for all EU countries to which the firm might expand in the future.
Irwin further noted: “Dojo’s market growth in the UK speaks volumes about our relentless focus on our customers, innovation, and empowering hard-working businesses to focus on the things that really matter to them. Our leading, cloud-native payment platform and data-driven insights empower businesses to thrive in the experience economy.”
One of the mentioned innovative moves was seen earlier this year when the company released a wireless handheld card machine designed to fit in the pockets and aprons of workers from the hospitality sector. The company named it the Dojo Pocket, believing that the product can help employees in the hospitality sector save time and effort simply by constantly having the machine with them.
