Company news

PacNet Services provides relief to companies affected by Cyprus banking crisis

Vancouver, Canada - PacNet Services, a leading provider of global payment solutions, has offered several Cypriot companies a lifeline in the form of channels through which to both receive funds from clients around the world and send funds as required through trusted channels outside of Cyprus.

The banking crisis means that many companies with deep roots in Cyprus have lost the capability to receive funds in their normal operating accounts.  They cannot access regular revenue streams. Likewise, companies with Cyprus based bank accounts are unable to send funds to pay their suppliers, fund payroll, or meet other financial obligations. Whatever the future of Cyprus may be, many companies have the immediate and urgent need to substitute their Cypriot banking facilities for new channels outside of Cyprus.

Since PacNet Services is not asking the companies to sign locked contracts, they may use the services for as long as required; resuming normal operations once the crisis is passed. However, PacNet Services hopes to build long-lasting relationships with those  of the companies who can benefit from their wide ranging menu of inbound and outbound payment products including payment card merchant accounts and processing as well as cutting edge electronic payment services in countries around the world. 

Based in Vancouver, Canada, with offices on four continents, PacNet Services offers inbound and outbound payment solutions in over 100 currencies worldwide.  For over 19 years, they have been a leading provider of international payment products and expertise to companies within the Forex industry as well as other sectors, such as e-commerce, direct response and the charitable sector.


Stuart Ballan

Head of Sales, Middle East

PacNet Services Ltd.

Tel: +972 584 319319

Skype: StuartBallan

Friday, 29 Mar, 2013 / 6:08

Source :

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