Geoswift now fully authorised by FCA

Geoswift now fully authorised by FCA
18.01.2017 05:30 pm

Geoswift now fully authorised by FCA

Payments

Geoswift, a leading provider of cross-border payment solutions between China and the rest of the world, announced today that its UK entity, Geoswift UK, has received authorisation as a Payment Institution from the Financial Conduct Authority (FCA) to conduct a more efficient end to end cross-border collection and settlement services to and from China.

Geoswift presently partners with major global banks, financial service providers, payment solutions providers and merchants. The FCA is the conduct regulator for 56,000 financial services firms in the UK.

Geoswift is the leading China cross-border collection and settlement service to have received FCA approval. In addition to providing business to business cross border collection and settlement services across the education, eCommerce and travel sectors, Geoswift UK using the approval will be able to deepen its direct relationship with partners across the tax return, banking, education and travel sectors. Geoswift remains committed to being a market leader in enhancing the accessibility, efficiency, transparency and security of cross-border transactions between UK and China.

Robert Miskin, Managing Director of Geoswift Europe, Middle East and Africa (EMEA) said, "We are delighted to receive the FCA approval for our operations in the United Kingdom. In a market landscape that is vastly robust and continually evolving, it is important to ensure our operations are fully-regulated, transparent and secure to meet international standards and to provide assurance to our partners and merchants. The FCA regulatory approval will enable us to meet the growing demands of our global partners and clients who require accessibility to efficient fund flows and secure cross-border payments between the UK and China. We are also preparing to futureproof our European expansion plans in due course and embrace the growing demand for China, throughout Europe. We hold a positive outlook for the B2B cross-border potential between Europe and China in 2017 and look forward to establishing deeper partnerships with the FCA license".

Geoswift is headquartered in Hong Kong with operating offices in Shanghai, London, Vancouver, Seattle and San Francisco for strategic and regulatory functions.

Related News

Domestic Payment Card Schemes Play a Unique Role in Many Countries

Cards carrying only a domestic scheme’s branding accounted for 12% of all payment cards worldwide in 2018. This sector has strong growth potential, with products tailored... Read more »

Computop and Eckoh Partner to Provide Retailers with Enhanced Security for Card-Not-Present Payments

Computop, a leading global payment processor, and Eckoh (AIM... Read more »

BlueSnap Appears on the Inc. 5000 List Following Three-year Revenue Growth of 260 Percent

Inc. magazine today revealed that BlueSnap is No. 1648 on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-... Read more »

Standard Chartered and Airtel Africa Partner to Drive Financial Inclusion Across Africa

Standard Chartered Bank (www.SC.com) and Airtel Africa have today... Read more »

Barclaycard Launches New Service to Redefine Supply Chain Payments for Businesses

Barclaycard has launched Barclaycard Payment Intelligence (BPI), a new service which uses in-depth data analytics to provide... Read more »

AscendantFX Introduces Payment Tracking Through SWIFT gpi

AscendantFX Capital announced today that they have become members of the SWIFT network, and more specifically the Global Payment Initiative (gpi). Ascendant... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel