Authorised payment institution in the United Kingdom

About This Company

The Financial Conduct Authority authorises payment institutions to provide payment services across the United Kingdom. That regulatory mandate rests upon the Payment Services Regulations 2017, in force from 2018-01-13. Authorisation permits execution of payment transactions, money remittance, issuing payment instruments, acquiring payment transactions, payment initiation services, and account information services. Operational reach remains domestic and does not passport abroad. When seeking initial authorisation, applicants face a statutory decision period of 3 months from complete submission, or 12 months for incomplete filings under Regulation 9 of PSRs 2017. Actual processing during Q4 2025/26 showed a median elapsed determination time of 207 calendar days across 44 cases, with a lower quartile of 124 days and an upper quartile of 269 days. Any buyer acquiring control must secure supervisory consent beforehand under FSMA 2000 Section 191F. Failing to obtain clearance constitutes a criminal offence. Regulatory notifications trigger at thresholds of 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. Assessment extends across 60 business days under FSMA Section 189, with a single pause of up to 30 business days if officers require further information. Confirmation of active permissions, trading names, registered address, and supervisory restrictions is accessible on the Financial Services Register by searching the firm's 6-digit reference number.