What is a Small Payment Institution License in the UK and Who Issues it?

A small payment institution (SPI) license in the United Kingdom is a type of license that allows a company to carry out limited payment services within the country. SPIs are authorized by the Financial Conduct Authority (FCA) and are subject to regulatory requirements that are designed to ensure that they conduct their activities in a safe and sound manner.

The SPI license is typically suited for companies that provide low-value payment services, such as money remittance, bill payment, or currency exchange, and whose annual payment transactions do not exceed a certain threshold. Companies that operate with an SPI license are required to comply with various regulatory obligations, including maintaining capital adequacy, safeguarding customer funds, and reporting suspicious activities.

How Can You Launch Your Own Small Payment Service in the UK?

Looking to launch your own small payment institution in the UK? Then you need a Small Payment Institution (SPI) license, and we’re here to help make it happen.

We understand the challenges of obtaining an SPI license and the importance of having a knowledgeable and experienced team to guide you through the process. Our team has helped many businesses just like yours successfully obtain their SPI license, and we’re ready to do the same for you.

Our experts will assist you every step of the way, from submitting your application to the Financial Conduct Authority (FCA) to providing ongoing support for your compliance needs. We’ll make sure that you understand the regulatory requirements and provide guidance on how to build a strong application.

At Faisal Khan LLC, we are committed to providing our clients with transparent and competitive pricing. You can find our detailed pricing information on this page so that you can choose what best suits your needs.

Don’t let the licensing process hold you back from launching your business. Let us help you navigate the complex regulations and requirements of obtaining an SPI license. Let’s get you on the road!

This page was last updated on June 7, 2023.

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