Payoneer lands UK e-money licence from FCA
New York-based paytech firm Payoneer has received an Electronic Money Licence (EMI) from the UK’s Financial Conduct Authority (FCA), allowing it to continue to offer its services in the UK and expand its footprint.
Payoneer lands UK e-money licence
The firm obtained the licence via its subsidiary Payoneer Payment Services UK. It already holds licenses or approvals in the United States, Europe, Hong Kong, Japan, Australia and India.
James Allum, CEO of Payoneer Payment Services UK and senior vice president for Europe at Payoneer, says the FCA is known for “setting the tone” for financial regulation globally, and the granting of its e-money licence underscores the firm’s ability to provide regulated financial services.
Following the licence approval, the company is now set to expand its UK footprint as it looks to assist small and medium-sized enterprises (SMEs) in the country with their payments processes.
The paytech recently appointed a new chief financial officer (CFO), Bea Ordonez, who will assume the role in March. In September, Payoneer hired Assaf Ronen as its first chief platform officer.
In May last year, the firm hired John Caplan as co-CEO and director alongside current CEO Scott Galit.
