As you’ll probably be aware, the UK voted on Thursday to leave the European Union. This process is expected to take a number of years to complete. As we are a UK-based business we wanted to take this opportunity to reassure our customers about our position and the impact on MIDAS during this transition.
The first thing to note is that all our administrative operations are based here in the UK. (For reference, our primary server infrastructure residing in the United States, with backup systems in the UK). We have no staffing or offices in other EU countries, and therefore the UK’s decision to leave the EU will have no effect on the day-to-day running of our operations.
Over 90% of our customers will reside in non-EU countries once the UK leaves the EU. As such, any subsequent financial volatility from other EU member states will have a negligible impact on our own financial position.
We continue to acquire customers from across the globe. This includes from other EU member states. Our EU customers are no less valued or important than any of our other global customers.
Will there be any impact on the price of MIDAS?
Our base pricing for MIDAS remains the same. We’ve not raised our prices as a result of the UK’s decision to leave the EU.
However, we do offer payment for MIDAS in a number of currencies, including Euros. Our prices automatically update daily based on the latest global exchange rates. As such, there may be some fluctuation in the price of MIDAS in the short term.
But that’s not necessarily a bad thing! In fact at time of writing, if you’re a non-UK customer, you may be able to grab a bargain if you’re quick!
Right now, the price of MIDAS today is approximately 10% lower than it was on Thursday for non-Sterling customers! We expect this initial volatility in global exchange rates to only be a short term “blip”.
So, the message is; we’re hopeful and excited about our country’s future, and it’s business as usual at MIDAS HQ!