As a preliminary point, we would like to clarify that we receive many inquiries from parties interested in acquiring a license. Regrettably, we’ve observed a common misconception that the process entails merely tendering an application fee or demonstrating the required…
Dear Valued Stakeholder, We are issuing this advisory to communicate our insights and recent experiences regarding the current licensing framework managed by the Financial Conduct Authority (FCA) in the United Kingdom. This advisory is backed by extensive discussions with a…
An API, or application programming interface, is a way for different software programs to communicate with each other. It allows different programs to exchange information and perform specific tasks by using a set of rules and standards that are defined…
UK and Europe have two different licensing regimes, both issued under the Payment Services Directive. The two licensing options are: The original Payment Services Directive was issued in 2007 and the new one called Payment Service Directive (Revised), commonly referred to as Payment Service Directive 2…
It is possible for a company to purchase an existing money transfer license in the United States. Money transfer licenses are typically issued by state financial regulatory agencies or by the federal government. In order to operate a money transfer…
An authorized payment institution (API) is a type of financial institution that is authorized to provide payment services in the European Union (EU) and in the United Kingdom. Payment services are activities that allow individuals and businesses to send and…