14 Oct 2019 | 09.04 am
Navan Loses Jobs Over Planning Issues
PFS developing new base in Trim
14 Oct 2019 | 09.04 am
Prepaid Financial Services is establishing a new base in Trim, Co. Meath, after plans to expand in Navan didn’t work out.
CEO Noel Moran (pictured) stated: “Our best efforts to remain in Navan didn’t materialise due to a lack of suitable office space for our numbers, and issues that arose with planning, preventing us from progressing the development on Abbey Road.
“However, Navan’s loss is Trim’s gain, and due to rapid growth we push on with a new development plan. We will make a significant investment of around €50m into a new sleek, modern fintech hub which, when fully developed, will create up to 750 office spaces. As a Meath man, I am proud to be creating more new jobs in the region.”
PFS is seeking to attract technology professionals, particularly developers and IT staff. Vacancies are across the business and include Software Developers, DevOps Engineers, iOS and Android App Developers, Full Stack Developers and Front-End Developers.
Available job details can be accessed here.
PFS delivers payment technology and electronic money solutions. Products include eWallets, physical and virtual prepaid cards and IBAN and current account solutions in the UK and eurozone.
Noel Moran began his cards payments career with AIB and then Permanent TSB. He moved to England to set up MBNA’s corporate cards operation and then spent three years with Alter Financial, which was establishing a prepaid cards business. With the financial crash, the Alter project was abandoned and Moran decided to run with the prepaid idea on his own.
In 2009 PFS launched with a prepaid card aimed at the corporate market. Moran recalls: “A decade ago if you had a small business with five or six people, or even a larger one with 50 or 60 people, for staff travelling abroad you really had to give them access to the company debit or credit card, and that obviously carries a lot of risk. In larger companies with employees all over the place, they were having their expenses reimbursed after the event.
“Our initial target market was medium sized corporates that we could service for travel. We gave them a prepaid card with a platform around it so that the employer could manage the money on each individual card, and restrict the card spend to certain types of outlays such as dining and accommodation.
“Then we moved into the government side of things and started to develop a platform specifically for local authorities in the UK. Local authorities have varied payments requirements, from making payments to benefit recipients or asylum seekers, corporate expenses, and a whole host of other things.
“With the banks it was a take it or leave it option and it didn’t really work, as there was no functionality for what the councils needed. We started working with one local authority and we developed a platform specifically around their needs. We now service 120 local authorities in the UK.”