Changes to Paysafecash services due to Brexit

How we are planning to operate after Brexit

The United Kingdom ("UK") is expected to leave the EU on 31st October 2019 (commonly known as “Brexit”). We have been working hard to minimise any impact this has on our customers and to ensure that Paysafecash can continue to provide you with uninterrupted services after Brexit.

To do this we need to change how we provide services in your country.

Our services are currently provided in your country through Prepaid Services Company Limited, a UK Financial Conduct Authority authorised and regulated electronic money institution (FRN: 900021).

Due to Brexit, we intend to start providing services in your country through a newly incorporated company based in Ireland, Paysafe Prepaid Services Limited (“PPSL”). PPSL is authorised and regulated by the Central Bank of Ireland as an electronic money institution (register number: C185005).

Changes to our terms and conditions

As a result of the above, from 29th October 2019, the services you receive from Paysafecash will be provided by PPSL and will be governed by new terms and conditions (“T&Cs”) between you and PPSL. The new T&Cs will be substantially the same as your current T&Cs with Prepaid Services Company Limited and you will receive the same services as you do today. Minor changes to the current T&Cs are required to reflect the assignment of the rights and duties under this contract with you and under these T&Cs to PPSL, including:

  • changing the details of the Paysafecash service provider to PPSL;
  • changing the governing law and jurisdiction to Ireland;
  • changing the details of the applicable point of contact if you have a complaint; and
  • updating the clarification regarding the compensation scheme.

You can view the new T&Cs below.

Until 29 October 2019, our products will continue to be governed by our current T&Cs, which can still be viewed and downloaded below.

What do you need to do now?

You do not need to do anything if you agree to the changes described above. These changes will come into effect on 29 October 2019 and will automatically apply to the services we provide to you from that date. Any existing balance with Prepaid Services Company Limited will automatically be transferred to PPSL and will remain available to you as normal.

If you do not agree with the changes, you may terminate your contract with us with immediate effect prior to 29 October 2019. For further information regarding your termination rights please see the section on termination in our current version of the T&Cs.

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