QuickPay is acting as an Electronic Money Distributor (EMD) for Sureswipe E.M.I. PLC (“Sureswipe”), a public limited liability company established in Cyprus, with registration number HE366500 and registered address at 18 Kyriakou Matsi, 1st Floor, Nicosia 1082, Cyprus and authorised as an Electronic Money Institution (EMI) with authorisation number 115.1.3.26, under the supervision of the Central Bank of Cyprus.

Safeguarding is a key regulatory requirement for all electronic money institutions (EMIs) in Europe. In accordance with the electronic money regulations, any funds received by an EMI in exchange for e-money must be segregated from the EMI’s own funds in a designated bank account held with a bank located in the European Union which is separate from the EMI’s own operational funds.

As the authorised EMI, Sureswipe has an obligation to hold a designated account for the safeguarding of client money and any funds held in the designated bank account will not be used against payment of liabilities meaning that your funds are protected as soon as they are received and until they leave your wallet.

This protection continues to be in place even if our business is terminated because that money will continue to be held by the bank and be available for you and will not be available to third parties.

We hope this puts your mind at ease and reassures you that you’re in safe hands.

You can find further information on the European Payment Services Directive 2 (PSD2) here (https://www.eba.europa.eu/regulation-and-policy/single-rulebook/interactive-single-rulebook/5482) and if you still have questions, please email us via support@muchbetter.com