Small payment institution in the United Kingdom

About This Company

Small payment institution (SPI) registration under PSRs 2017 establishes a strictly domestic operating footprint in the United Kingdom. Authorisation rests upon the Payment Services Regulations 2017 (SI 2017/752), in force from 2018-01-13. Activities covered include execution of payment transactions, money remittance, issuing payment instruments, acquiring payment transactions, payment initiation services, and account information services. Regulatory scope stops firmly at the UK border, as the status does not passport into foreign jurisdictions. The Financial Conduct Authority supervises registered firms from London, maintaining statutory objectives to protect consumers and uphold market integrity. Prospective buyers must comply with change of control provisions, where acquiring or increasing control without prior consent is a criminal offence under FSMA 2000 Section 191F. Relevant assessment rules allow 60 business days from acknowledgement of complete notification, extendable by a 30 business day pause. The regulatory fee framework imposes an application charge of GBP 1,130 under Pricing Category 3, alongside a recurring annual fee of GBP 646 under Fee-block G.3. Confirming registration status requires searching the Financial Services Register by reference number, firm name, individual name or postcode. Buyers should verify that business volume remains within small payment institution statutory thresholds before concluding transfer agreements.