Payment services and e-money

We help clients who operate payment services and issue e-money. This is a growing and innovative sector where technology is moving at a fast pace. But the regulatory background is complex – firms not only have to understand their obligations under the regulations but also the expectations of the regulator.

FCA authorisation for e-money and payment services

Taking the right approach from the start can make the FCA application process far easier, and substantially increase your potential for success. The FCA is keen for the payments services sector to expand, and welcomes the competition new entrants bring, but will not authorise firms which it perceives to be a risk to customers, or market integrity.

Key considerations include:

  • The competencies (and attitudes) of the senior team
  • The ability to demonstrate that ‘mind and management’ within the UK regulated entity
  • Clear evidence of appropriate consideration of customer outcomes
  • A business model, and operational control framework that is resilient

Helping payment services firms with FCA regulation

We help firms through the regulatory maze and make sure any FCA application has the best chance of success. Our clients range from small start-ups to much larger groups, and our services are flexible to meet your needs exactly.

We can:

  • Help you understand the regulatory regime and how this affects your business model
  • Advise on the types of activity carried out
  • Prepare application documents for submission to the FCA
  • Draft or review compliance procedures and documents
  • Train your management team and staff to ensure you understand your obligations
  • Review your existing processes and procedures to ensure they are compliant.
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