PAA CAPITAL GROUP is proud to announce it’s incorporation in Panama, Panama. Our growth is your advantage.
PAA PACIFIC ASIAN ATLANTIC CAPITAL (PANAMA) S.A.
Registration No. 155649787
PAA CAPITAL GEORGIA LLC
PAA CAPITAL GROUP is proud to announce it’s incorporation in Kutaisi, Georgia. Our growth is your advantage.
PAA CAPITAL GEORGIA LLC
Registration No. 404569588
PAA CAPITAL MANAGEMENT (PYT) LTD NAMIBIA
PAA CAPITAL GROUP is proud to announce it’s incorporation in Windhoek, Namibia. Our growth is your advantage.
PAA CAPITAL MANAGEMENT (PTY) LIMITED
Registration No. 2019/0320
PAA CAPITAL (PVT) LTD ZIMBABWE
PAA CAPITAL GROUP is proud to announce it’s incorporation in Harare, Zimbabwe. Our growth is your advantage.
PAA CAPITAL (PRIVATE) LIMITED
Registration No. 4505/2019
PAAC FINTECH LIMITED KENYA
PAA CAPITAL GROUP is proud to announce it’s incorporation in Nairobi, Kenya. Our growth is your advantage.
PAAC FINTECH LIMITED
Registration No. PVT-5JUBZ9B
PAA CAPITAL LIMITED TANZANIA
PAA CAPITAL GROUP is proud to announce it’s incorporation in Dar Es Salaam, Tanzania. Our growth is your advantage.
PAA CAPITAL LIMITED
Registration No. 139119169
PAA CAPITAL ZAMBIA LIMITED
PAA CAPITAL GROUP is proud to announce it’s incorporation in Lusaka, Zambia. Our growth is your advantage.
PAA CAPITAL ZAMBIA LIMITED
Registration No. 120190004977
Company Announcement
Publishing for immediate Media release on November 20, 2018.
PAA CAPITAL GROUP is honored and proud to announce the continuous growth by extending the management team through appointing of
– Laifodi Kaferapanjila as Regional Manager Sub-Sahara to Southern Africa.
Mr. Kaferapanjila has proven to be a real asset and has gained the groups trust and confidence throughout the past years of its endeavor in Africa. We are very happy to have been able to win him for our team.
Company Announcement
Strengthening of our executive management team.
PAA CAPITAL GROUP is delighted to announce the strengthening of its executive management team through the following appointment:
– Dr. Domenico Caragnano as Regional Manager Europe and Middle East.
Responsible for key account management and driving forward the Company’s new business opportunities.
4th Money Laundering Directive for Prepaid Cards
Dear Valued Clients:
As you are probably aware, on the 20th May 2015 the European Union approved the Proposal to Amend Regulation 648/2012. This has become commonly known as the 4th Money Laundering Directive (4MLD).
As stipulated by the EU, the 4MLD will be finally adopted by all member states on the 26th June 2017. Gibraltar, being a member of the EU, will be adopting this Directive and it has already been transposed into local legislation.
The 4MLD brings along several important changes to the way that PAA CAPITAL can do business. It also makes important changes to the way our products can be sold and used.
Although our ability to continue issuing prepaid cards has not been affected, the initial load limits under which we can issue cards without cardholder verification, which you already know as KYC 1 (Know Your Customer Level 1), has significantly changed.
What are the main changes?
As of the 26th June 2017, the maximum load limit for KYC 1 cards will be reduced from . 2,500 to .250.
KYC 1 cardholders with less than .250, will have limited spend up to .100 through ATM or point of sale transactions.
To summarize, to load more than .250 or to exceed spend of .100, the cardholder must be verified.
What does this mean?
Prior to 4MLD, a KYC 1 cardholder could load .2,500 onto his prepaid plastic or virtual card before his identity and address information required verification. With 4MLD in place, a cardholder.s identity and address information must be verified to allow any loads above the new limit of .250.
A verified cardholder becomes KYC 2 and the full range of services of your Program would be available under the corresponding KYC 2 limits.
What will happen to KYC 1 cardholders on 26th June 2017?
As of 12:00 AM BST, on the 26th June, KYC 1 plastic and virtual cardholders, with a card balance that exceeds .250, will be unable to use their card(s) for any transaction. KYC 1 cardholders would need to have their identity verified to be able to spend their funds.
4MLD allows KYC 1 cardholders with less than .250 to spend up to .100 through ATM or point of sale transactions. To exceed spend of .100, the cardholder must be verified.
What does PAA CAPITAL recommend for Cardholders?
We recommend that KYC 1 cardholders verify their identity prior to the 26th June 2017.
Do these limits also apply to residents of France and Overseas Territories of France?
No. These new limits do not apply to residents of France or Overseas Territories of France as they are covered by the limits which have already been released and provided prior to this 4th Money Laundering Directive for Prepaid Cards.