PayGate established its corporate extension in Luxembourg and UK. It has stepped unto two financial Leading countries such as Luxembourg and UK.
– PayGate and Banque Internationale a Luxembourg has engaged to collaborate in Europe for FinTech Business.
– According to Deloitte “PayGate S.A. will be obtaining Digital Finance License in Europe within this year”
PayGate confirmed its corporations in Luxembourg and the UK, the Financial Hub in Europe.
Mr. Gilles Ploncard (“Gill”) is an appointed CEO of PayGate S.A.
He is an expert compliance officer and has experience in Transaction monitoring, Risk analysis and Business Partnership. He will playing a vital role in PayGate’s Business expansion in Europe and will act as an moderator with Governments and enterprises.
PayGate has choosen Luxembourg because the country is the Center of European Finance and has friendly ecosystem to Korean Fintech Companies. Mr. Pierre Gramegna, the Minister of Finance, visited Korean Fintech Forum and Seoul City Hall in 2015.
Payment Institute License is the License granted by CSSF, the Financial Supervisory Service in Luxembourg, which permits the company to provide banking services such as deposit, payment, remittance, credit card payment, foreign exchange and more. It grants all such business authority in European districts.
PayGate S.A. has been currently managing the partnership with Banque Internationale a Luxembourg, a Bank in Luxembourg, for Fintech business.
The CEO of BOD, the accounting firm, which will be responsible for audit of PayGate S.A, expects PayGate S.A. will be obtained PI license within this year. It is mandatory for PayGate S.A. to report its financial statement to the CSSF yearly to be approved with the settlement fund.
PayGate has been consulted by PwC, E&Y, KPMG, and Deloitte, the Big 4 accounting firms for the PI license.According to Gilles, the CEO of PayGate S.A., “PayGate S.A. is aiming for Internet Banking License which will enable us to do most of the banking businesses in Europe and our global Fintech business will be based on the license.”
PayGate is now planning to launch its Fintech platform ‘Seyfert’ in U.S, Hong Kong, Australia, Singapore, India, and Indonesia, and has obtained the SWIFT code ‘PCORKRSS’ to be linked over 1,000 financial institution partners around the World. Seyfert can offer Payment, Remittance, Foreign Exchange, Authentication, and collecting money solutions, based on its Blockchain system and bitcoin.