A Small Payment Institution in the UK is issued by the FCA which currently regulates about 59,000 firms. A SPI license in the UK enables you to offer a lot including depositing and withdrawing money from a payment account, execution…
In the wake of Brexit, one cannot simply passport an EU license to the United Kingdom and vice versa. Any payment institution that wishes to operate in the UK has to apply for a UK-specific API (Authorized Payment Institution) or…
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…
What is an SPI?A Small Payment Institution (SPI) license in the UK is issued to institutions who have meet the requirements laid out by the FCA. The main criterion according to which the company can obtain the SPI license as…
The Small Payment Institution (SPI) license is required to offer payment services in the UK and the EU. This license is also referred to as the registered license, as opposed to the authorized license; also called the Authorized Payment Institution(API).…
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…