- Payoneer obtained its e-money license from the U.Ok. Monetary Conduct Authority.
- The license will allow the digital commerce firm to proceed serving its U.Ok.-based clients.
- Having earned the license, Payoneer now plans to develop its footprint within the U.Ok. area.
International digital commerce firm Payoneer obtained its e-money license from the U.Ok. Monetary Conduct Authority (FCA) this week. The license will allow Payoneer to proceed to supply its e-money providers to U.Ok.-based companies.
“The FCA historically units the tone of monetary regulation globally and subsequently we’re extraordinarily proud to be receiving our e-money license within the U.Ok., mentioned Payoneer Cost Providers CEO and SVP of Payoneer Europe James Allum. “We’re excited to have the ability to proceed serving our clients within the U.Ok. and with our relationship with the FCA. Our clients within the UK now trust in Payoneer’s constant skill to supply regulated monetary providers of the best customary.”
With the brand new U.Ok. cash license, Payoneer will develop its footprint within the area, providing its digital cash providers to U.Ok.-based companies.
Payoneer was based in 2005 and affords multi-currency accounts to 5 million clients starting from marketplaces, sellers, freelancers, gig staff, producers, banks, suppliers, and consumers. With a mission to “democratize entry to monetary providers and drive progress for digital companies of all sizes from around the globe,” Payoneer helps customers pay, receives a commission, and handle funds on a world scale. The corporate additionally affords working capital– offering advances to Amazon and Walmart sellers, in addition to to small companies.
In 2021, Payoneer went public through a SPAC merger with FTAC Olympus Acquisition Corp. The corporate listed on the NASDAQ in June 2021 beneath the ticker PAYO. Scott Galit is CEO.
Photograph by Pixabay
