Pay with Fire — a new personal payment account to transform the way people and businesses are paid

Originally published at www.realexpayments.com on May 30, 2014.

With an ambition to transform the way people and businesses are paid, Fire Financial Services Limited, regulated by the Central Bank of Ireland, has taken its Pay with Fire Personal Account out of beta. With a mission to address some fundamental problems in the payments industry and to transform the way people and businesses pay and get paid, the company has been working on the product for several years.

Pay with Fire is a new style of account, enabling users to lodge and withdraw funds, send and receive payments, operate multiple accounts and get notifications on Facebook. At a time when traditional banks are re-introducing transaction fees, the Pay with Fire personal account is free of transaction charges.

The Pay with Fire personal account is like a bank account and more:

• Send a payment instantly to any Irish or UK mobile number
• Manage how much personal information you share each time you pay
• Request payment from other users, including sending group requests
• Open up to 3 euro and 3 sterling accounts
• Receive lodgements from any bank account and withdraw to your own accounts
• Get notified immediately of all activity on your account
• Link it to your phonebook for fast access to your contacts

Speaking on the announcement, Fire Founder and CEO, Colm Lyon said “it’s time for change, real change, in the way people and businesses pay and are paid. We want to fundamentally transform the payments landscape and make payments safer, more accessible, social and less expensive to process. That is our mission. This is a significant milestone for us and marks a fundamental change in the payments landscape; as a regulated entity we have joined the banking networks so we can create the most complete and compelling payments products”.

“We are delighted to have reached this milestone and phenomenally excited about our future plans. In many ways, what we see today is the base upon which we will build the payment applications of the future”, Colm concluded.

The company aims to make payments more social, safe, accessible, mobile and less expensive than current payment methods. To achieve this, Fire Financial Services secured a licence under the Payment Services Directive in 2010 and has since joined the Irish and Single Euro Payments Area (SEPA) clearing systems or banking networks. It is one of the first (Payments Institutions) non-banks to join such networks.

See our website www.paywithfire.com for more details.

About Fire Financial Services Limited (Regulated by the Central Bank of Ireland)

Pay with Fire is developed and operated by Fire Financial Services Limited — regulated by the Central Bank of Ireland. The business is registered as a limited company in Ireland and operated under the name of Carapay Limited from 2009 until July 2013, at which time the name was changed to Realex Financial Services Limited. In 2015, following the sale of Realex Payments, the name was changed to Fire Financial Services Limited. It is licenced since 2010 as a “Payments Institution” under the Payment Services Directive, a European wide programme to create a harmonised legal framework for payment processing.

Fire Financial Services Limited has its registered office at The Observatory, 7–11 Sir John Rogerson’s Quay, Dublin 2, Ireland, and its company number is 464819 and was founded by Colm Lyon in 2009.

www.paywithfire.com www.twitter.com/paywithfire www.facebook.com/paywithfire