The Central Bank of Cyprus has granted an authorisation to operate as payment institutions, under the provisions of the Payment Services Laws of 2009 to 2010 (the Law) to the following companies:
(a) G.A.P. Vassilopoulos Public Ltd (licence no. 115.1.2.4, dated 10/2/2011),
(b) Unistream Cyprus Ltd (licence no. 115.1.2.5, dated 11/2/2011) and
(c) G.S. Cash Line Ltd (licence no. 115.1.2.3, dated 14/2/2011).
All three companies are authorised to carry out money remittances as provided in point 6 of the Annex of the Law.
Simultaneously, the Central Bank of Cyprus has withdrawn the authorisation which was granted to the above companies for the establishment and operation of a money transfer business, under the provisions of the Directive for the Regulation of Money Transfer Services of 2003 to 2009.