Small payment institution in the United Kingdom

About This Company

Small payment institutions operate under domestic registration. That status derives from the Payment Services Regulations 2017, in force from 2018-01-13, and does not passport. Before executing share purchase agreements, the buyer should check the Financial Services Register using the firm's 6-digit reference number, individual name, trading names, or postcode. Official entries show registration standing, permitted activities, appointed representatives, trading names, registered address, and any supervisory restrictions. Checking these permissions verifies coverage for execution of payment transactions, money remittance, issuing payment instruments, acquiring payment transactions, payment initiation services, or account information services. Acquirers must obtain supervisory clearance from the Financial Conduct Authority before taking control. Acquiring control without prior consent represents a criminal offence under Section 191F. Mandatory notifications apply at thresholds of 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. The statutory assessment period runs for 60 business days under FSMA Section 189, pausable once for up to 30 business days if further information is requested. Annual maintenance incurs a GBP 646 extra periodic fee under Fee-block G.3. Regulators in London supervise roughly 34,000 solo-regulated firms to protect consumers, protect UK financial system integrity, promote effective competition, and support medium to long-term UK economic growth.