CAB Payments secures Dutch licence, eyes European expansion

Cross-border payments firm lands pivotal approval to operate across EEA.

CAB Payments secures Dutch licence, eyes European expansion
Cab Payments

CAB Payments Holdings (LSE: CABP) has taken a significant stride in its growth strategy, with its Dutch arm securing a payment service provider licence from De Nederlandsche Bank. The company has consequently established its European headquarters in Amsterdam under the moniker CAB Payments Europe.

This regulatory green light paves the way for CAB Payments to offer its services across the entire European Economic Area (EEA). CEO Bhairav Trivedi hailed the development as "a substantial growth opportunity," underscoring the group's long-standing ambitions in the European market.

Kostas Konstantis, General Manager at CAB Payments Europe, highlighted the firm's potential to streamline cross-border transactions, which often entail opaque fees and unfavourable foreign exchange margins. "For EEA organisations, especially governments and NGOs...these challenges exacerbate global inequality, stunts international trade, and limits growth," he stated.

The news buoyed investor sentiment, with CAB Payments' shares surging 12% on Thursday morning. The stock has rallied over 50% since the start of 2024.

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