Payment Services

Check and Demonstrate Your Firm's Compliance Against Each Payment Services Requirement:

  • Legal Entity Alignment Confirmation: Verify the structure suits SPI, API, or EMI status, with guidance explaining why incorporation as limited companies for APIs/EMIs ensures liability limits, capital retention, and FCA approval, while SPIs allow flexibility for sole traders or partnerships.

  • Articles of Association Verification: Confirm documents permit payment or e-money services, including rationale on why explicit allowances prevent authorisation hurdles, match FCA requirements, and support regulated activities without amendments.

  • Company Details Inclusion in Application: Document accurate registration number, name, and office in FCA submissions, highlighting why precise matching with Companies House avoids processing delays, evidences legitimacy, and facilitates swift authorisation.

  • Wind-Down Compatibility Assessment: Review structure for wind-down obligations, explaining why limited liability aids capital safeguarding and orderly closures, reducing personal risks for sole traders and ensuring compliance with PSR wind-down plans.

  • Multiple Permissions Consideration (SPI-only): Assess need for diverse payment services, underscoring why bundling permissions under one entity optimises operations, minimises costs, and aligns with growth strategies without separate authorisations.

  • Scalability Future-Proofing: Confirm monitoring of activity levels for re-authorisation thresholds, with insights on why contingency plans for API/EMI upgrades support seamless transitions, maintain compliance, and prepare for increased volumes or services.

  • Regulatory Status Documentation: Verify clear records of chosen status with financial forecasts, including rationale on why this justifies applications, demonstrates understanding of implications, and integrates with business models for FCA scrutiny.

  • Principal Place of Business Affirmation: Confirm UK-based mind and management, explaining why this ensures effective FCA supervision, complies with location rules, and prevents offshore mismatches that could invalidate authorisations.

Firms leveraging RegTechPRO achieve up to 40% faster authorisation preparations, with actionable insights into FCA PSR expectations, turning entity setup from a regulatory obstacle into a strategic foundation.