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Gibraltar Payments Companies Form E-Money Association

Members of the payments business community in Gibraltar recently have formed the Gibraltar Electronic Money Association (GEMA) to promote the Mediterranean country as the location of choice for global payment service providers. Member businesses include Wave Crest, IDT Financial Services, Transact Network, Payoneer EU and Ramparts. Daniel Spier, managing director of IDT, serves as GEMA chairman. GEMA, which held its inaugural meeting earlier this month, is adopting a collaborative approach to further common goals and to help solve issues within the industry, according to an announcement. GEMA also hopes to work more effectively alongside the Financial Services Commission (FSC), the government’s regulatory body. “The FSC is supportive of the electronic money industry and is working closely with the industry for an efficient regulatory environment which complements the innovative approach of this sector,” said FSC CEO Marcus Killick.


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