Tintra PLC Granting of Mauritius Payment Services License (5607I)
19 Abril 2022 - 1:15AM
UK Regulatory
TIDMTNT
RNS Number : 5607I
Tintra PLC
19 April 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
19 April 2022
TINTRA PLC
("Tintra", the "Group" or the "Company")
Granting of Mauritius Payment Intermediary Services License
Granting of Mauritius Payment Intermediary Services License
The board of directors of the Company (the "Board") are pleased
to announce that its wholly owned subsidiary, Tintra Payments
(Mauritius) Limited ("TPM"), has been granted permission to
commence business under its Payment Intermediary Services License
from the Mauritius Financial Services Commission. This allows TPM
to operate as an online Payment Service Provider, covering the
provision of payment services and merchant online services for
accepting electronic payments by a variety of methods including
credit card, bank-based payments such as direct debit, bank
transfer, and real-time transfer based on online banking.
Mauritius has become an important financial services hub for
Africa and South Asia and the approval of of TPM to commence
operations is viewed by the Board as an important step in the
development of its Web 3.0 Banking strategy. TPM, a Mauritian
incorporated company, is currently finalising its name change from
Oyster Payment Services, a brand that the Company used when forming
the original vehicle, that was never activated, in 2018.
Name Change of JV Company
To more closely align with the Company's strategy, the name of
the Group's AI Joint Venture vehicle that houses its relationship
with TMC2, which was announced on 24 November 2021, has changed
from Finsensr Ltd to Tintra 3.0 Ltd.
Richard Shearer , Tintra CEO, said, " This is the latest spoke
in the hub and spoke financial model we are building. I look
forward to further announcements in this regard in other
territories around the world in the fullness of time.
A number of conversations are underway globally with strategic
jurisdictions, such as Mauritius, that align with our road map and
strategy. Simultaneously, this will allow us the scope to execute
on our philosophy of building relationships with partners and
territories that share our view that fiscal inclusion is a right,
not a privilege.
The previously announced hubs of our emerging market clearing
bank network, namely, the UK, Qatar and Puerto Rico, will be
supported by ancilliary e-licenses such as the license announced
here, which is the result of a lot of work to create future value
from an under utilised legacy Company asset. This license will
bridge currencies and territories utlilising our innovative
artificial intelligence-led compliance, that we fully expect will
lead the world in eroding financial friction as we build a Web3
bank that is truly beyond borders, politics and geography . "
For further information, contact:
Tintra PLC
(Communications Head)
Hannah Haffield
h.haffield@tintra.com
Website www.tintra.com 020 3795 0421
Allenby Capital Limited
(Nomad, Financial Adviser & Broker)
John Depasquale / Nick Harriss / Vivek
Bhardwaj 020 3328 5656
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END
MSCGLGDSXGBDGDC
(END) Dow Jones Newswires
April 19, 2022 02:15 ET (06:15 GMT)
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