Payoneer Receives UK E-Money License from Financial Conduct Authority
- 17.02.2023 10:10 am
Payoneer, the financial technology company empowering the world’s small businesses to transact, do business and grow globally, has received (via its subsidiary – Payoneer Payment Services UK Ltd) its Electronic Money License (EMI) from the United Kingdom’s Financial Conduct Authority (FCA). The license is a key requirement for digital financial institutions to continue operating in the UK and will allow Payoneer to keep providing its full suite of services to UK-based businesses.
The FCA authorisation demonstrates Payoneer’s commitment to the UK market as it seeks to continue providing regulated financial solutions. The license enables Payoneer to carry on empowering UK businesses to grow globally in the digital global economy. Payoneer will also look to grow its footprint in the UK, seeking to help more businesses navigate the world of global digital commerce.
James Allum, CEO of Payoneer Payment Services UK Ltd and SVP Europe of Payoneer, commented:
“The FCA traditionally sets the tone of financial regulation globally and therefore we are extremely proud to be receiving our e-money license in the UK. We’re excited to be able to continue serving our customers in the UK and with our relationship with the FCA. Our customers in the UK now have confidence in Payoneer’s consistent ability to provide regulated financial services of the highest standard.”
Payments processed through Payoneer are made through a compliant, secure and tightly audited payments platform that is supervised by financial regulators around the world. Payoneer already holds licenses or approvals in the United States, Europe, Hong Kong, Japan, Australia and India.