Understanding Payment Service Regulations
Bringing A New Payment Service Into Your Business
The payment-services sector is evolving rapidly, and the regulatory framework governing payment services can be too complex for many firms to negotiate with much confidence. We help firms understand their responsibilities under current regulations and help them work directly with regulators to secure and maintain their permission
We work with firms across the sector, including authorised payment institutions, payment initiation services providers, account information service providers, small payment institutions, and firms that depend on electronic money authorisations
How Do You Get Authorised?
Before you can start to carry out the payment service, you will need to evidence that your business is fit to carry out the payment service within their regulations.
Regardless of the payment services your firm provides, we can help you understand your obligations and apply for authorisation quickly, confidently, and successfully. Our clients range from large, established organisations to tiny start-ups. Each of them gets a flexible, customised suite of services that match their specific needs.
How We Can Help
We set out comprehensive guidance on the current regulatory framework and how it affects your business
We carry out a complete review of your documentation, policies and processes
We work with you to assemble and deliver your FCA application and draft documents and procedures that demonstrate compliance
Our training and ongoing support will ensure your compliance is maintained
Not sure what you need?
Get in touch today
Frequently Asked Questions
From the first meeting with our consultants to a final decision by the FCA, the application process can take up to six months. Much of this time will be taken up by the FCA’s review of your application, which includes a thorough review of your business plan to confirm that your business model is fit to operate in good standing as a member of the UK’s financial services industry.
Our team offers a complete review of your documentation and can help you secure any documentation that you will need.
That’s fine! Our team takes the time to understand your business needs and set out a plan with the services you require.
Our Other Financial Sectors
Businesses wishing to offer credit to customers will need authorisation from the FCA (Financial Conduct Authority) before they can offer finance.
Our team provides a complete service to help you get authorised by the FCA and ensures each area of your business, from documentation to processes, is fully compliant.
If your business is involved with the cryptocurrency sector, then we help you to understand the various money laundering regulations that you will be subject to.