Changes to the Paysafecash services due to Brexit

How we are planning our business activity after the completion of Brexit

The United Kingdom ("UK") will prospectively exit the EU on 31st of october 2019 (which is generally referred to as "Brexit"). We have made considerable efforts to keep the implications for our customers to a minimum and ensure that Paysafecash can continue to offer you an uninterrupted service, even after Brexit.

For this purpose, we must change the way in which we provide services in your country.

We are currently providing our services for our customers in your country through Prepaid Services Company Limited, an e-money institution, which is licensed and regulated by the British Financial Conduct Authority (British Company Registration Number: 900021).

Due to Brexit, effective immediately, we intend to provide our services through a newly founded company with its registered office in Ireland, called Paysafe Prepaid Services Limited ("PPSL"). PPSL is licensed by the Central Bank of Ireland as an e-money institution and is regulated by it.

Changes to our terms and conditions

Due to the aforementioned reasons, the services which you use from Paysafecash will be provided by PPSL from 29 October 2019 and from that point onwards will be subject to the new General Terms and Conditions ("GTC") between you and PPSL. The new GTC essentially correspond to the current GTC between you and Prepaid Services Company Limited and you will receive the same services as previously. Minor changes are required to the current GTC, which take account of the transfer of the rights and duties from this contract with you and the GTC with PPSL, i.e.:

  • Changing the provider of the Paysafecash services to PPSL;
  • Changing the applicable law and the jurisdiction to Ireland;
  • Changing the contact details for the responsible point of contact, in case you have a complaint; and
  • Updating the information regarding the compensation policy.

Please find the new GTC below.

Until 29 October 2019, the previous GTC will apply to our products, which you can view and download as usual.
 

What do you need to do now?

If you agree to the changes described above, you don't need to do anything. These changes come into force on 29 October 2019 and will automatically be valid for the services which we provide for you from this date onwards. Existing credit balances with Prepaid Services Company Limited will automatically be transferred to PPSL and will be available to you as previously.

If you do not agree to the changes, you can cancel your contract with us prior to 29 October 2019 with immediate effect. You can find additional information about your cancellation rights in the "Cancellation" section in our currently valid version of the GTC.

Thank you for your patience while we make these necessary changes to our business activity.