News Release

A message from Modulr: We're committed to Post-Brexit payments reliability

Modulr By Modulr on 29 October 2020   •   2 mins read
<span id="hs_cos_wrapper_name" class="hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text" style="" data-hs-cos-general-type="meta_field" data-hs-cos-type="text" >A message from Modulr: We're committed to Post-Brexit payments reliability</span>
  • We're committed to payments reliability in the post-Brexit world
  • We’re pleased to announce that our Dublin-based entity, Modulr FS Europe Limited (“Modulr Europe”) has been granted an EMI licence from the Central Bank of Ireland 
  • This marks an important step towards providing services to customers across the European Union

At Modulr, it's our mission to help you scale your business by making payments robust, resilient and reliable so you can focus on driving your business forward. With the Brexit deadline looming, we want to reassure that you'll receive the same level of payment reliability you've come to expect from us.

To prepare for Brexit we announced earlier this month that Modulr Europe has been granted an EMI licence from the Central Bank of Ireland, and continue to provide services post-Brexit. We want to provide clarity to customers and partners of our Brexit preparations.

Following the United Kingdom’s exit from the European Union on 31 January 2020, it entered a period of transition agreed as part of the Withdrawal Agreement. This transition period is due to end at 11pm on 31 December 2020. With the EU/UK relationship still very much undefined, there is much uncertainty about what a post-Brexit reality will actually look like but, while we can’t predict the future, we can prepare for it.

No Brexit impact to UK partners serving UK customers and peace of mind for EEA customers

At Modulr, we’ve been working hard behind the scenes and taking the appropriate action to insulate our customers from the operational consequences of Brexit and to ensure that we remain well-placed to meet the considerable demand for our services, both in the UK and across the EEA. This means that after the end of the transition period, Modulr Europe will provide services to customers in the EEA.

Looking ahead - continuing to drive our instant payments expertise into the Eurozone

We have never been better placed to build on our strong business growth in the UK and to drive our UK experience in Faster Payments to instant payments into the Eurozone, where we have further ambitions to build a truly digital, frictionless payments infrastructure.

Our extensive suite of payments products, including our award-winning platform, will soon be available to EEA markets. While the terms of the UK’s future relationship with the EU may still be uncertain, everyone at Modulr remains committed to delivering the 24/7 service and support that our clients have come to expect and to ensuring that payments continue to run smoothly for businesses both in the UK and across the wider EEA, during Brexit and beyond.

If you have any questions concerning Brexit or need further clarity on your particular situation post-Brexit, do not hesitate to get in touch with your dedicated customer success representative. Alternatively, email customersuccess@modulrfinance.com

All the best,

The team at Modulr