Carapay, a Realex Payments subsidiary, has been awarded a Payment Institution license from the Financial Regulator. The license is issued under the Payment Service Directive (PSD) which allows new companies into the European market without having a banking licence. The following description of Carapay is taken from the Realex Payments press release.

“Carapay will be accessible anytime, anywhere using any web or mobile device people can pay each other, pay businesses and shop online – safe, secure and in real time. Carapay can be used to pay bills, club memberships, school fees, dinners with friends or any other type of money transfer normally conducted using cheques or cash.”

Carapay is due to launch in early 2011. You can register your interest on the Carapay website.

Dave

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