Banking News

FCA greenlights payment licence for e-commerce provider

FCA greenlights payment licence for e-commerce provider

(18 August 2017 – United Kingdom) Payments service provider eMerchantPay has received authorisation from the UK’s Financial Conduct Authority as an e-money institution (EMI), which means it can issue products including payouts, e-wallets and prepaid cards – and it has joined the Prepaid International Forum (PIF).

“The EMI licence allows for the opportunity to develop new payments capabilities for our merchants who in turn will benefit from additional revenue streams,” says Jonas Reynisson, CEO of eMerchantPay. “We continue to invest in our payments technology and look forward to working closely with PIF, providing a unified voice for the prepaid sector.”

eMerchantPay provides online, mobile and POS payment services to e-commerce businesses.

PIF is a London-based trade group that advocates for the prepaid industry in Europe and internationally. It celebrated its tenth anniversary last year.

In April, PIF asked UK regulators for more clarification on certain aspects of how the second Payment Services Directive (PSD2), framework will be applied in the country.

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