- UK-based paytech Volt has been granted an Electronic Money Institution (EMI) licence by the Financial Conduct Authority (FCA), adding to its existing European licence in Poland.
- The new licence enables Volt to offer electronic money services in the UK, including issuing virtual accounts and holding client funds.
- The firm plans to enhance its cash management offering, Connect, through which it will issue virtual accounts for merchants to accept account-to-account payments from customers and provide real-time payment confirmation.
- Volt’s EMI licence will also allow it to offer customers a virtual account as a standalone product.
- Volt raised $60 million in a Series B funding round last year for global expansion.
