Changes to paysafecard services due to Brexit
How we are planning our business activity after the completion of Brexit
The United Kingdom ("UK") will prospectively leave the EU on 31 January 2020 . This is generally referred to as "Brexit". We have made considerable efforts to keep the implications for our customers to a minimum and ensure that paysafecard can continue to offer you an uninterrupted service, even after Brexit.
For this purpose, we need to change the way in which we provide the services in your country.
We are currently providing the services in your country through Prepaid Services Company Limited, an e-money institution, which is approved and regulated by the Financial Conduct Authority (British company registration number: 900021).
Due to Brexit, effective immediately, we will be providing services in your country through a newly founded company with its registered office in Ireland, called Paysafe Prepaid Services Limited ("PPSL"). PPSL is approved and regulated by the Central Bank of Ireland (the Irish Central Bank) as an e-money institution.
Changes to our terms and conditions
For the aforementioned reasons, the services, which are offered to you by paysafecard, will be provided by PPSL from 29 October 2019 and from then onwards, will be subject to the new General Terms and Conditions ("GTC") between you and PPSL. The new GTC essentially correspond to the current GTC between you and Prepaid Services Company Limited and you will receive the same services as previously. Minor changes are required to the current GTC, which take account of the transfer of the rights and duties from this contract with you and the GTC with PPSL, i.e.:
- Changing the provider of the paysafecard services to PPSL;
- Changing the applicable law and the jurisdiction to Ireland;
- Changing the contact details for the responsible point of contact, in case you have a complaint;
- Updating the information regarding the compensation policy.
You can find the new GTC below.
Until 29 October 2019, the previous GTC will apply to our products, which you can view and download as usual.
What do you need to do now?
If you agree to the changes described above, you don't need to do anything. The changes will come into force on 29 October 2019 and will automatically be valid for the services which we provide for you from this date onwards. Existing credit balances with Prepaid Services Company Limited will automatically be transferred to PPSL and will be available to you as previously.
If you do not agree to the changes, you can cancel your contract with us before 29 October 2019 with immediate effect. You can find additional information about your cancellation rights in the "Cancellation" section in our currently valid version of the GTC.
Thank you for your patience while we make these necessary changes to our business activity.