Authorised payment institution in the United Kingdom

About This Company

Payment Services Regulations 2017 govern the establishment of an authorised payment institution in the United Kingdom. Submitting a de novo application under Regulation 9 requires payment of an application fee of GBP 5,640 for services a to e, or GBP 2,820 for services f to h. The Financial Conduct Authority operates under a statutory decision window of 3 months from receiving a complete file, which extends to 12 months if the submission is incomplete. Published data across 44 authorisations in Q4 2025/26 shows an observed median elapsed determination time of 207 calendar days, with a lower quartile of 124 days and an upper quartile of 269 days. Purchasing an existing entity replaces that licensing process with the statutory change of control procedure. Under FSMA Section 189, the regulator assesses proposed controllers within 60 business days from acknowledging a complete notification. Case officers may pause that timetable once for up to 30 business days to request necessary documents. Acquiring shares or voting power crossing 10%, 20%, 30% or 50%, or becoming a parent undertaking, mandates prior approval. Completing an acquisition without authorisation is a criminal offence under FSMA 2000 Section 191F.