t
On September 1, 2021, MobilityOne Limited's wholly-owned UK subsidiary, M-One Tech Limited, submitted an application to the Financial Conduct Authority (FCA). This application seeks authorization as an electronic money institution to provide e-money services in the UK, including e-wallets for payments and fund transfers. A decision from the FCA is expected in the second quarter of 2022, updating a prior announcement from June 15, 2021.
| Date | 1 Sept 2021 |
| Time | 16:28:23 |
| Category | Corporate updates |
| ID | 4473K |
1 September 2021
MobilityOne Limited
("MobilityOne", the "Company" or the "Group")
Update on UK electronic money institution application
MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider, provides the following update to the announcement released by the Company on 15 June 2021. The Company's wholly-owned subsidiary in the UK, M-One Tech Limited, has today submitted an application to the Financial Conduct Authority (the "FCA"), the financial regulatory body in the UK, for authorisation as an electronic money institution to provide e-money services in the UK. This includes the use of e-wallets for payments of purchases or transferring funds to/from other parties within the e-money ecosystem, both of which are areas in which the Group already has operational experience in Malaysia. The decision from the FCA in respect of the submitted application is expected to be received in the 2nd quarter of 2022 and, if approved, the Group will be able to expand its business activities into the UK. There can be no guarantee as to either the decision or timing of the decision by the FCA.
For further information, please contact:
MobilityOne Limited +6 03 89963600
Dato' Hussian A. Rahman, CEO www.mobilityone.com.my
Allenby Capital Limited
(Nominated Adviser and Broker) +44 20 3328 5656
Nick Athanas /Vivek Bhardwaj
About the Group:
MobilityOne provides e-commerce infrastructure payment solutions and platforms through its proprietary technology solutions. The Group has developed an end-to-end e-commerce solution which connects various service providers across several industries such as banking, telecommunication and transportation through multiple distribution devices including EDC terminals, mobile devices, automated teller machines ("ATM") and internet banking. The Group's technology platform is flexible, scalable and designed to facilitate cash, debit card and credit card transactions from multiple devices while controlling and monitoring the distribution of different products and services.
For more information, refer to our website at www.mobilityone.com.my