Granting of Mauritius Payment Services License
19/04/2022 07:15
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RNS Number : 5607I Tintra PLC 19 April 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
19 April 2022
TINTRA PLC
("Tintra", the "Group" or the "Company")
Granting of Mauritius Payment Intermediary Services License
Granting of Mauritius Payment Intermediary Services License
The board of directors of the Company (the "Board") are pleased to announce
that its wholly owned subsidiary, Tintra Payments (Mauritius) Limited ("TPM"),
has been granted permission to commence business under its Payment
Intermediary Services License from the Mauritius Financial Services
Commission. This allows TPM to operate as an online Payment Service
Provider, covering the provision of payment services and merchant online
services for accepting electronic payments by a variety of methods including
credit card, bank-based payments such as direct debit, bank transfer, and
real-time transfer based on online banking.
Mauritius has become an important financial services hub for Africa and South
Asia and the approval of of TPM to commence operations is viewed by the Board
as an important step in the development of its Web 3.0 Banking strategy.
TPM, a Mauritian incorporated company, is currently finalising its name change
from Oyster Payment Services, a brand that the Company used when forming the
original vehicle, that was never activated, in 2018.
Name Change of JV Company
To more closely align with the Company's strategy, the name of the Group's AI
Joint Venture vehicle that houses its relationship with TMC2, which was
announced on 24 November 2021, has changed from Finsensr Ltd to Tintra 3.0
Ltd.
Richard Shearer, Tintra CEO, said, "This is the latest spoke in the hub and
spoke financial model we are building. I look forward to further announcements
in this regard in other territories around the world in the fullness of
time.
A number of conversations are underway globally with strategic jurisdictions,
such as Mauritius, that align with our road map and strategy. Simultaneously,
this will allow us the scope to execute on our philosophy of building
relationships with partners and territories that share our view that fiscal
inclusion is a right, not a privilege.
The previously announced hubs of our emerging market clearing bank network,
namely, the UK, Qatar and Puerto Rico, will be supported by ancilliary
e-licenses such as the license announced here, which is the result of a lot of
work to create future value from an under utilised legacy Company asset. This
license will bridge currencies and territories utlilising our innovative
artificial intelligence-led compliance, that we fully expect will lead the
world in eroding financial friction as we build a Web3 bank that is truly
beyond borders, politics and geography."
For further information, contact:
Tintra PLC 020 3795 0421
(Communications Head)
Hannah Haffield
h.haffield@tintra.com
Website www.tintra.com
Allenby Capital Limited 020 3328 5656
(Nomad, Financial Adviser & Broker)
John Depasquale / Nick Harriss / Vivek Bhardwaj
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