SafeCharge Receives Approval to be MasterCard Issuer

SafeCharge is an international online payment provider that offers simple, secure and convenient online payments. This company was in partnership with MasterCard, one of the most respected credit card companies in the world. Recently, the partnership between MasterCard and SafeCharge was expanded. Now, SafeCharge is an official issuer of MasterCard pre-paid cards and products.

The SafeCharge and MasterCard Partnership Expansion

On Wednesday, December 10^th 2014, SafeCharge announced that it had received approval to become a MasterCard issuer. In addition, it was also announced that Ali Farid Khwaja would be appointed to the new pre-paid card issuing division as the executive vice president. Chief Executive of SafeCharge David Avgi commented on the approval received from MasterCard stating that this approval is an extension of the already existing MasterCard Principal Membership.

Avgi goes on to say that this is yet another great achievement for SafeCharge. He says that the approval now allows his company to issue their own pre-paid and co-branded cards. Ultimately, Avgi says that this is an important step to creating a new branch for SafeCharge’s business. Avgi says that they are very excited to increase their range of products and they are ready to get into a new market sector replete with growth opportunities.

About Ali Farid Khwaja

The new executive vice president of SafeCharge’s card issuing division, Ali Farid Khwaja, previously worked at the private bank Berenberg as a financial technology analyst. Khwaja will begin his work as executive vice president in February 2014. Before he worked at Berenberg, Khwaja was a technology analyst in charge of emerging market investments for UBS. He is a chartered financial analyst and graduated from Oxford University. After the announcement, SafeCharge stock increased by 1.91 % at 240.00 pence per share which was 2% less than their annual high of 245.00 pence per share.