Company Overview and License Information

The company was licensed as a regulated payment service provider in 2016 by applicable financial services legislation. Despite holding a valid license, the entity has not commenced any business operations to date. Additionally, it does not maintain any bank accounts, and there have been no financial transactions or client engagements since its incorporation.

Permitted Activities

The license grants the company the authority to engage in the following regulated payment services:

i. Execution of Payment Transactions from a Payment Account (Non-Credit Based): The company is authorized to execute the transfer of funds from a payment account, provided that the funds are not granted as a loan by the provider. These transactions may be:

1. Initiated directly by the payer
2. Initiated by the beneficiary
3. Initiated by the payer through the beneficiary

ii. Execution of Payment Transactions from a Payment Account (Credit-Based): The company may also execute transfers of funds on a payment account where the funds are granted as a loan by the payment service provider to the user. This includes credit facilities or overdraft-enabled transactions initiated by the user.

iii. Money Remittance Services: The company is authorized to offer money transfer services where neither the payer nor the beneficiary uses a payment account with the payment service provider. These are typically one-off transactions that do not require a formal account relationship, such as over-the-counter or digital remittance services.

Operational Status

Although the company has remained inactive since licensing and has not engaged in any client-facing or internal financial operations, it is in good standing with the regulatory authority. This dormant status may present an opportunity for reactivation, acquisition, or strategic repurposing under a compliant and previously approved regulatory framework.