UK electronic money institution application

RNS Number : 4473K

MobilityOne Limited

01 September 2021

 

1 September 2021

MobilityOne Limited

("MobilityOne", the "Company" or the "Group")

Update on UK electronic money institution application

MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider, provides the following update to the announcement released by the Company on 15 June 2021. The Company's wholly-owned subsidiary in the UK, M-One Tech Limited, has today submitted an application to the Financial Conduct Authority (the "FCA"), the financial regulatory body in the UK, for authorisation as an electronic money institution to provide e-money services in the UK. This includes the use of e-wallets for payments of purchases or transferring funds to/from other parties within the e-money ecosystem, both of which are areas in which the Group already has operational experience in Malaysia.  The decision from the FCA in respect of the submitted application is expected to be received in the 2nd quarter of 2022 and, if approved, the Group will be able to expand its business activities into the UK. There can be no guarantee as to either the decision or timing of the decision by the FCA.

For further information, please contact:

MobilityOne Limited   [phone]

Dato' Hussian A. Rahman, CEO www.mobilityone.com.my

[e-mail]

Allenby Capital Limited

(Nominated Adviser and Broker)  [phone]

Nick Athanas /Vivek Bhardwaj

About the Group:

MobilityOne provides e-commerce infrastructure payment solutions and platforms through its proprietary technology solutions. The Group has developed an end-to-end e-commerce solution which connects various service providers across several industries such as banking, telecommunication and transportation through multiple distribution devices including EDC terminals, mobile devices, automated teller machines ("ATM") and internet banking. The Group's technology platform is flexible, scalable and designed to facilitate cash, debit card and credit card transactions from multiple devices while controlling and monitoring the distribution of different products and services.

For more information, refer to our website at www.mobilityone.com.my

 

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