MyPOS to expand in Ireland after securing e-money licence

5 days ago

Image: © Seventyfour/Stock.adobe.com

MyPOS is planning to grow its Dublin team to around 30 people and open an ‘experience centre’ in Ireland.

London-headquartered fintech company MyPOS plans to grow its Dublin team after obtaining an e-money licence from the Central Bank of Ireland.

The company provides point-of-sale payment acquiring and other payment services to more than 150,000 small and medium-sized merchants in more than 30 European countries.

After receiving authorisation as an electronic money institution from the Irish Central Bank, Dublin will become its European regulatory headquarters.

Stephane Pilloy, CEO of MyPOS Ireland, said the authorisation would enable the company to bring “all regulated services under the MyPOS Group umbrella”, helping the business become “even more efficient at empowering small businesses across Europe”.

The fintech has been targeting European growth of late. It has been rolling out experience centres, where customers can see its payment terminals in person and get advice about devices and onboarding.

It is now planning to open its second store and experience centre in France, after opening stores in Rome and Bucharest earlier this year.

MyPOS plans to open a Dublin experience centre in 2023. It also plans to bring its Dublin-based team up to around 30 people by the middle of next year.

“Our international growth demands a talent pool, a strategic location and a robust legal and regulatory framework, and Ireland offers all of these,” said Pilloy.

Martin Shanahan, CEO of IDA Ireland, described the MyPOS expansion as “impressive”.

“We are delighted that another of the world’s most dynamic organisations, which puts innovation in payments at the service of its merchants, has chosen Ireland as its European regulatory headquarters,” he said.

Minister of State at the Department of Finance Seán Fleming, TD, added that the Government “is focused on improving Ireland’s status as a global fintech hub”.

Other fintechs that have expanded in Ireland recently include homegrown businesses CreditLogic and MoneyJar, as well as the UK’s Monese.

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Blathnaid O’Dea is Careers reporter at Silicon Republic

editorial@siliconrepublic.com