Capital Treasury Services (CTS) has become one of the Island’s first international investment services providers to be licensed by the Financial Services Commission to conduct payment service business. The move comes after the FSC made the provision and execution of payment services a regulated activity from January 1, 2011. In response CTS has launched its Internet Payment and Cash Management Service (IPCM), a business-to-business offering compliant with the FSC ruling. CTS managing director John Cookson said: ‘Receiving regulatory approval to provide payment services adds to the existing suite of investment business and service licences from the FSC held by the underlying regulated companies within Capital International Group. ‘Our IPCM product employs cutting edge technology and has been designed expressly to accommodate this latest expansion of money transmission legislation and provide added value to our client proposition. We see it being of particular benefit to the trust and corporate service provider sector and, increasingly, the e-gaming industry to facilitate those occasions when there is a requirement to make payments to local or international recipients. ‘Drawing on Capital Treasury Services’ global relationships, we can access low cost, domestic clearing systems in most major currencies and cater for all payments methods, including CHAPS, BACS, SWIFT and SEPA. ‘Importantly, when clients choose to make payments through our IPCM service they benefit from the security of dealing with a trusted partner and also from increased efficiency by not having to arrange transfers via a third party, which leaves them free to concentrate on developing their business.’ Capital International Group chief executive Anthony Long added: ‘This cost- effective, flexible, efficient and secure payment solution completes CTS’s portfolio of treasury products and services, offering the client greater choice, economy and speed of execution. CTS becoming one of the first companies to be licensed for this new regulated activity, combined with the launch of our IPCM service, are the latest demonstrations of the Capital International Group’s values of innovation, integrity and excellence, where the client is the focus of all that we do.’ For more information contact John Cookson, j.cookson@capital-cts.com. Capital International Limited is a member of the London Stock Exchange. Capital Treasury Services, Capital International Limited, Capital Fund Services Limited, Capital Select Limited and Capital Financial Markets Limited are members of the Capital International Group. Capital Treasury Services, Capital International Limited, Capital Fund Services Limited, and Capital Financial Markets Limited are all licensed by the Isle of Man Financial Supervision Commission. www.capital-cts.com ENDS