Payoneer lands e-money license from regulator ahead of UK expansion
The Financial Conduct Authority’s permissions come at a time when New York-based Pioneer says it is looking to expand its UK operations.
Payoneer has been granted permission to operate an e-money license in the UK by the Financial Conduct Authority.
The UK financial regulator’s authorisation comes via a subsidiary of the NASDAQ-listed US fintech company Payoneer Payment Services UK Ltd.
An e-money license allows companies to offer payments and other digital financial services without being a bank.
Payoneer, which has a core business offering business payments, says it is looking to “grow its footprint” in the UK, in the near future.
“The FCA traditionally sets the tone of financial regulation globally and therefore we are extremely proud to be receiving our e-money license in the UK,” said James Allum, CEO of Payoneer Payment Services UK Ltd and SVP Europe of Payoneer.
“We’re excited to be able to continue serving our customers in the UK and with our relationship with the FCA. Our customers in the UK now have confidence in Payoneer’s consistent ability to provide regulated financial services of the highest standard.”
Payoneer already holds licenses in the United States, Europe, Hong Kong, Japan, Australia and India.