Payment Services

Compliancy Services has assisted a number of firms gain their Payment Services licenses from the FSA. We are able to use our significant experience of managing FSA applications for the benefit of firms applying to become authorised for the first time.

The Payment Services Directive applied to firms managing a wide range of Payment Services, such as Money Transfer and Payment Accounts.

Firms managing payments of > Euro3m/month need to apply to become Authorised Payment Institutions, while those with less than this amount may register as a Small Payment Institution, which is a significantly less onerous process.

Did you know: The application process for Payment Services is significantly different, and more complex in many ways, for PSD licenses than for other FSA regulated firms.