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Matheson supports Paymentsense in securing its e-money institution authorisation

Services: Financial Institutions Date: 01/12/2023

Matheson is pleased to have supported Paymentsense Ireland Limited, trading as Dojo, with successfully securing an e-money institution authorisation from the Central Bank of Ireland.  This authorisation will allow Dojo to launch its own regulated payment services into Ireland and on a cross-border basis into key EU markets for the first time.  The EMI authorisation represents a critical milestone for Paymentsense's international expansion ambitions, having up till now focussed its efforts on the UK market.

Matheson partners Joe Beashel and Ian O'Mara from Matheson's Financial Institutions Group were supported by associates, Nicole Ward, Megan Fennell and Kelsie Somers and a cross-section of corporate, employment and technology colleagues in the authorisation process.

Ian O'Mara, partner in Matheson's Financial Institutions Group said, "We are delighted to have played a part in helping Paymentsense to achieve the milestone of securing authorisation as an e-money institution.  This is the culmination of a long and detailed process and one which will enable the firm to offer its own regulated merchant acquiring service internationally outside of the UK for the first time."

"It is an encouraging sign that some of the most exciting and rapidly growing firms in the fintech sector see Ireland as the ideal location for spearheading their international expansion plans into the European market.  It is also another great vote of confidence in Matheson as the law firm of choice for internationally focused companies and financial institutions doing business in and from Ireland."

Launched in the UK in 2009, Paymentsense has been offering payment services using third parties' systems, and in Ireland since 2014.  In order to provide its own transaction processing system, it launched the Dojo acquiring service in the UK three years ago.  You can read more about Paymentsense Ireland and Dojo here - https://dojo.tech/  

Matheson's Financial Institutions Group is led by 8 partners and over 25 lawyers. The team consistently advises on the most high-profile and significant transactions in the Irish and international markets for regulated financial institutions. This transaction is a further example of the strength and depth across our market-leading Financial Institutions Group and showcases our experience delivering for clients on their complex and innovative international expansion projects.

Matheson is ranked as a Tier 1 Irish law firm by both Legal 500 and Chambers Europe for Fintech. For more information about our legal services, please contact a member of the Financial Institutions Group tor your usual Matheson contact.


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