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Google moves its payment services from London to Dublin for the Brexit

The subsidiary Google Ireland Limited will take over the payment platforms in Europe, which until now were managed by Google Payment Ltd. in London

The technological giant Google confirmed that it will move from London to Dublin, Ireland, its payment services, given the uncertainty posed by the departure of the United Kingdom from the European Union (EU), sources of the corporation said.

The relationships

The US multinational contacted its clients this week to inform them in writing that, as of tomorrow, changes will be made “in the conditions” of the services, in order to keep functioning normally, even if it changes, the relationship of the United Kingdom with regarding the US with the Brexit.

In this way, the subsidiary Google Ireland Limited will take over the payment platforms in Europe, which until now were managed by Google Payment Limited from the British capital, in order to guarantee “business continuity”, no matter what happens after This rupture, said the sources cited, who added that the decision “is not temporary”.

Transactions + Google

“When this happens, you can continue to check your previous transactions at pay.google.com, but Google Ireland Limited will process your payments and your information in accordance with the stipulations of the new service conditions” explained the company in its correspondence with the clients.

Among other payment services, the Irish subsidiary will manage the services of Google Pay and Google Play Payments, from which customers download mobile applications, the sources added.

The transfer operation takes place when the British Government continues to negotiate a break with the EU, although the blockade suffered by this process has stoked fears of a wild Brexit.

The position of the Irish Central Bank

In this regard, the Irish Central Bank (ICB) already authorized last January Google to operate as a payment entity in this country and the entire community block.

The Irish regulator took that action under the Payment Services Directive (PSD2), which allows the company to expand its presence in the financial sector, after obtaining a license from the IBC two years ago to manage electronic money.

With this new permission, Google Payment Ireland can, for example, manage credit cards, make money transfers “online” of users or currency exchange operations.

Published inFintech

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