Trust Payments’ subsidiary achieves API License from the FCA

By Megha Bhattacharya

Trust Payments announced that the UK’s Financial Conduct Authority (FCA) has granted an Authorised Payment Institution (API) license to the company’s subsidiary TrustUK Payments Ltd. The license allows the company to engage in payment services directly in the UK without the need to rely on its existing EU licensing structures or transitional arrangements in the wake of Brexit.

Daniel Holden, CEO, Trust Payments commented, “The UK has always been one of our biggest markets, and our headquarters are in London. Achieving the FCA license is strategically important to us as we can continue to fully operate in the UK without the need for temporary permissions, giving our customers and partners full reassurance of our stronghold in the UK. We will also continue to give our EU-based merchants focused services through our EU-license.”

The company stated that it plans to further accelerate investment in the UK, with the establishment of a new operations centre to service UK based merchants and to complement the group’s expanding global footprint.

Trust Payments is a unified payments group for global pay-in, pay-out and customer journey technologies. Its technology platform connects to 50+ global banks to support multi-acquirer processing, as well as its merchant acquiring solution in the EU, acquiring.com. The group holds Principal Memberships with Visa and Mastercard, as well as money transmission and gaming vendor licences in the US.