This announcement essentially offloads the burden of the FCA, but not the CBI. EML had to apply to the High Court of Ireland to divest PFS.
Today's announcement merely cools this hot potato a little so they can offload it. The company has already announced they wish to focus on their core business, away from PFS.
I got an email from Qantas Cash advising they're changing to Qantas Pay. It appears that they're moving away from being only a travel pre-paid card to being a general payments platform, likely with a mobile phone payment facility.
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