Briefing

A moment of calm has descended on financial markets with the prospect of a summit to address the escalating Ukraine situation offering some relief to investors with the FTSE 100 edging up in early trade. The US markets are closed due to President’s Day in the US, but it’s the actions of Presidents in the US, France and Russia which seem set to determine sentiment among investors in the days to come.

Stock markets are likely to stabilise in the coming weeks and investors should be seeking to build their wealth now with currently undervalued equities, affirms the CEO of a global game-changing financial advisory, asset management and fintech organisation.

The comments from Nigel Green, chief executive and founder of deVere Group, which has $12bn under advice, come after most major markets have experienced two consecutive weeks of turbulence.

“Attempts to pump up the price of Bitcoin to celebrate its adoption as legal tender in El Salvador have fallen flat with the cryptocurrency deflating in value slightly over the past 24 hours.

Leading UK anti-money laundering (AML) firm SmartSearch is warning businesses against ignoring European Union money laundering directives, following the UK’s departure from the EU at the start of the year.

The RegTech 100 firm, which operates globally, said that despite Brexit, the EU-wide money laundering directives have been written into UK law and still need to be adhered to. Otherwise, businesses will be exposed to enforcement action from the Financial Conduct Authority (FCA).

In addition, as part of the legislation governing the departure from the trading bloc, the UK government has stipulated that electronic verification should be used, enabling businesses to move away from manual, document-based checks.

Pictured Udo Müller, CEO of paysafecard.

eCash solution from Paysafe now available in Moldova

Chișinău, Moldova,  paysafecard, a market leader in eCash payment solutions and part of integrated payments platform, Paysafe, launches in Moldova today as a new secure and easy way to pay with cash for online purchases, particularly in the digital entertainment space.

paysafecard enables consumers to shop for goods and services online, simply and securely, using a 16-digit code to complete the payment transaction. It opens up significant possibilities for online shopping for millions of consumers who were previously excluded – either because they don’t have a bank account or credit card, or because they don’t want to share their bank account details on the internet, often for security reasons.

“We’re excited to be launching in Moldova, a country where much of the population is underserved in terms of credit cards and a high number of transactions are made using cash.  paysafecard will enable Moldovans to move their cash online and participate in the online marketplace, easily and securely.” 

Out of Moldova’s 3.65 million inhabitants¹, 3.07 million of them use the internet², with 1.92 million accessing it via a mobile device³. As of 2019, only 14% of the adult population had credit cards and three out of four transactions were paid using cash⁴. As such, paysafecard provides an ideal solution for Moldovans to use cash to not only make online purchases conveniently but also join the world of gaming, social media and communities and film and music without the need for bank accounts or credit card information.

Thanks to a partnership with bpay.md (www.bpay.md), a popular payments and collection network, paysafecard can be bought at over 650 independent vending machines and is offered in five denominations (100, 200, 500, 1,000 and 1,500 Moldovan Leu; 1 euro equates to around 20 MDL).

About paysafecard
paysafecard, a market leader in online prepaid payment solutions, was founded in 2000 and is headquartered in Vienna, Austria. paysafecard is part of the international Paysafe Group, which provides a broad portfolio of innovative payment solutions and services. paysafecard offers prepaid and online cash solutions under the brands paysafecard, my paysafecard, paysafecard Mastercard® and Paysafecash. Available in over 650,000 sales outlets in 50 countries, paysafecard enables simple and secure online transactions prepaid vouchers. By using a 16-digit paysafecard PIN, customers do not need an account or credit card to pay on the Internet, protecting their confidential financial information. In 2018, paysafecard developed Paysafecash, with which customers can shop online first and then pay for their purchases securely with cash offline at the next payment point. Paysafecash is already available in almost 30 countries. In 2018, paysafecard reached a transaction volume of more than 3 billion euros. www.paysafecard.com