Payoneer, a technology company listed on the Nasdaq stock exchange, said that it had been granted an Electronic Money License (EMI) by the UK’s Financial Conduct Authority (FCA) through its subsidiary Payoneer Payment Services UK Ltd.
Payoneer has been granted a license by the UK authorities to keep providing its full range of services to UK-based businesses.
This license is very important for digital financial institutions operating in the UK. Payoneer was founded in 2005 to make it possible for everyone to join the digital economy. Its platform helps small businesses, especially in developing countries, manage their funds, pay and receive payments, and increase their business.
CEO of Payoneer Payment Services UK Ltd and SVP Europe of Payoneer, James Allum, said:
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. 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.”
This new approval shows the company’s commitment to customers in the UK. It already has licenses in Japan, the United States, Europe, Australia, Hong Kong, and India. Payments processed through the platform are secure and regulated by financial regulators around the world. The company is looking to expand its presence in the UK with this new approval.
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