The UK operations will be led by new Payhawk UK CEO Pedro Batista
In brief:
- Expense management fintech Payhawk has been authorised as an Electronic Money Institution (EMI) by the Financial Conduct Authority (FCA).
- The UK licence joins Payhawk’s existing European EMI licence and was granted after the FCA conducted due diligence on the fintech’s compliance, financial, and operational processes.
- The EMI licence allows Payhawk to issue electronic money, facilitate digital payments and provide a range of payment solutions directly to UK-based companies.
What does this mean?
“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 Borisov CEO of Payhawk UK. “We are extremely proud of receiving our e-money licence in the United Kingdom and receiving the trust of the FCA, said. “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,” Batista said. “This confirms our commitment to providing regulated financial services of the highest standard.”
