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Cross-border payments firm, Payoneer, has gained its Electronic Money License (EMI) with approval from the Financial Conduct Authority (FCA).
The license will allow Payoneer to fully operate in the UK and provide its services to UK-based companies. The move indicates the payments company’s aim to expand in the British digital finance market.
James Allum, CEO of Payoneer Payments Services UK Ltd and SVP Europe, stated: “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.”
Payoneer now has the license to operate in the UK, Europe, US, Hong Kong, Japan, Australia, and India, and is awaiting its EMI in Singapore.
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