Our thoughts on Brexit

2 weeks ago today, Britain woke up to the news that we had collectively decided to part ways from our European Union. Whilst the dust is still settling on this shocking outcome a lot remains unclear. There is turmoil in both of Britain’s main political parties, a vacuum of leadership, and huge uncertainty around how our country’s relationship with Europe will evolve.

This uncertainty won’t affect our operations in the near term — we will continue to serve our European customers without interruption. However, we’ve been considering how to proactively respond to these new circumstances and wanted to share our plans for supporting our customers across Europe.

We are 100% committed to our expansion in Europe, and see this outcome as an opportunity to turn further towards our European markets. Concretely, we will be doing this by:

• Expanding our operations in Europe & exploring additional EU regulatory approvals ahead of any changes to the law.

• Accelerating our expansion plans in France, Germany & Spain by doubling our teams and establishing a local presence in these markets.

• Investing more heavily in our SEPA product to ensure our offering is the best way to accept recurring payments across Europe.

We fundamentally believe that our world is becoming more interconnected even if our politics aren’t. For us, the vote for Brexit underlines the importance of our vision to create a global bank-to-bank payment network. We will therefore be working hard to ensure you can continue to focus on business as usual without worrying about how to get paid.