Netpay International – Press release
January – 2020
Netpay would like to officially announce to all Merchants who currently utilize Netpay’s services and to all possible future Merchants, that the company has been reviewing its verticals and services in specific fields. Therefore, Netpay International will no longer accept Merchants in the Forex industry, nor Merchants who are connected to the industry of forex and around that.
In the year of 2019, FCA released a statement regarding permanent restrictions in the industry, quoting: “Our intervention follows evidence of firms aggressively marketing CFDs to the general public, meaning retail consumers are buying a product that isn’t appropriate for them. We saw firms offering CFDs with increasingly higher leverage, resulting in high proportions of consumers losing money…”.
Netpay takes FCA’s decision as guidance and a clear warning regarding the future of the Forex Industry and the future of all industries around it.
If you are a Forex company who recently applied to receive services from Netpay International, please be aware that your application will be immediately denied and refused.
As it was previously mentioned, Netpay is currently reviewing the companies and industries that it provides its services to, therefore, this communication might extend to other industries as well. In such case, Netpay will officially announce its decision.
This decision applies from January 01st, 2020.