European paytech firm payabl. has obtained a UK electronic money institution (EMI) licence, enabling expansion of its services and merchant portfolio.
Facts
- Payabl. has acquired an electronic money institution (EMI) licence in the UK.
- The company previously operated under the FCA’s Temporary Permission Regime (TPR).
- The new licence allows transferring UK-based customers to the UK EMI licence.
- The firm plans to grow its team and hire payment experts to support business expansion.
- Payabl. aims to provide merchant acquiring for Visa, Mastercard, and American Express.
- Its UK offerings encompass point-of-sale (POS) systems, payment accounts, and linked payment cards.
- Sean Forward, UK CEO of payabl., led the licence process with his wealth of experience.
- Founded in 2011, payabl. has offices in Germany, Netherlands, Cyprus, and the UK.
- The company facilitates transactions from over 300 payment methods through its solutions.
