Payhawk is now a licenced Electronic Money Institution (EMI) in the UK. The Financial Conduct Authority (FCA) granted the licence after extensive due diligence into Payhawk’s compliance, financial, and operational processes. The new UK EMI licence will allow Payhawk to directly issue electronic money, facilitate digital payments and provide card issuance and payment solutions to new and existing UK customers.

In addition to the EMI licence in the UK, Payhawk holds an EMI licence covering the EEA and is a principal member of Visa Europe. Payhawk is also accredited by ICAEW’s Technology Accreditation program, and maintains PCI DSS Level 1, SOC 2, and ISO 27001 certifications. In the past few months, Payhawk has added several executives to the leadership team who come with strong track records leading regulated financial institutions. At the end of 2023, Payhawk partnered with Wise to integrate fast, low-cost international payments services in over 50 currencies.

A big step in Payhawk’s ambition to become the preferred global spend management company

Hristo Borisov, CEO and Co-founder of Payhawk said: “We are thrilled to achieve another important milestone in our journey to make managing business payments easy for everyone. Our company’s strong product DNA allows us to quickly launch new, high-quality features for our customers, and the new UK licence unlocks new possibilities for us. By controlling more of the payment process stack for our customers, we can optimise the infrastructure to address the needs of our client base, further accelerating development velocity and innovation. This is a major step in our ambition to become the preferred global spend management company by combining our cutting-edge software with regulated payment services.”

Pedro Batista, Chief Executive Officer of Payhawk Financial Services UK, commented: “We are extremely proud of receiving our e-money licence in the United Kingdom and receiving the trust of the FCA, which, in our view, has one of the highest benchmarks of regulators worldwide and traditionally sets the tone of financial regulation globally. This confirms our commitment to providing regulated financial services of the highest standard.”

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