back Back

Payhawk obtains EMI licence in the UK

By Gloria Methri

January 17, 2024

  • Business Spend Management
  • Electronic Money Institution
  • Electronic Money Institution (EMI) licence
Share

Payhawk, FinTech, Spend Management Solution, EMI License, UKPayhawk, the global spend management solution, is now a licensed Electronic Money Institution (EMI) in the UK. The Financial Conduct Authority (FCA) grants the EMI licence after extensive due diligence into a company’s compliance, financial, and operational processes.

In addition to the EMI licence in the UK, Payhawk holds an EMI license covering the EEA, is a principal member of Visa Europe, is accredited by ICAEW’s Technology Accreditation program, and maintains PCI DSS Level 1, SOC 2, and ISO 27001 certifications.

Hristo Borisov, CEO and Co-founder of Payhawk said, “We are thrilled to achieve another important milestone in our journey to make managing business payments easy – for everyone. Our company’s strong product DNA allows us to quickly launch new, high-quality features for our customers, and the new UK licence unlocks new possibilities for us. By controlling more of the payment process stack for our customers, we can optimise the infrastructure to address the needs of our client base – further accelerating development velocity and innovation. This is a major step in our ambition to become the preferred global spend management company by combining our cutting-edge software with regulated payment services.”

In the past few months, Payhawk has added several executives to the leadership team who come with strong track records leading regulated financial institutions.

Borisov added, “We are happy to welcome Gareth Walsh, a former executive at SumUp, who joined as Group Chief Compliance Officer; Maor Fishman who joined our group as a General Counsel from Checkout.com, where he served the role of a Deputy General Counsel; and Pedro Batista who is in charge of our regulated activities in the UK as CEO of Payhawk Financial Services UK. He is also responsible for Payhawk’s global Payment & Operations division.”

Pedro Batista, now CEO of Payhawk Financial Services UK, said, “We are extremely proud of receiving our e-money licence in the United Kingdom and receiving the trust of the FCA, which, in our view, has one of the highest benchmarks of regulators worldwide and traditionally sets the tone of financial regulation globally. This confirms our commitment to providing regulated financial services of the highest standard.”

Previous Article

January 17, 2024

Volopa selects Yapily for seamless Open Banking finance experience

Read More
Next Article

January 18, 2024

India’s DMI Group acquires FinTech startup ZestMoney

Read More








IBSi Daily News Analysis

digital wallets

March 01, 2024

Business Spend Management

Banking Sector and regulatory framework: addressing India’s growing demand for secure lockers

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 01, 2024

Hecto Financial eases cross-border transactions with new solution

Read More

March 01, 2024

Marqeta & AffiniPay team to launch SMB credit card solution

Read More

March 01, 2024

Viva.com activates Cartes Bancaires on Tap to Pay on iPhone in France

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023