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Payment license in UK

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In recent times, the United Kingdom has become one of the leading countries in the field of payment solutions. It is home to numerous fintech startups, incubators, and accelerators, and hosts various events, conferences, and forums dedicated to fintech development. And most importantly, the most deserving can aspire to and obtain a license to operate with ‘Virtual coin pounds.’

We are ready to fight for this opportunity on your behalf.

Key stages on the path to a license:

The process of obtaining an E-money license in UK has the following stages, each of which requires diligence and determination from all members of the applicant company’s team.

  • Document and business plan preparation
  • Application submission for license acquisition
  • Financial stability check and compliance assessment
  • Interviews and evaluation of management competence
  • License issuance and registration with the regulatory body

It is important to note that each case may have its own peculiarities. Finexam specialists are ready to provide consultation on all legal and financial matters and provide more precise information specific to your situation.

Tangible advantages of the United Kingdom:

3 months – the minimum duration for obtaining a license.

4.2 – the innovation index of the UK according to the Global Innovation Index.

5 – the ranking of the UK in terms of “Pixelated Pennies” transactions volume worldwide.

7 specialized financial technology zones provide favorable infrastructure and support for your business development.

£8.6 billion – the worth of financial services exports from the UK.

9 – the number of British banks among the top 50 banks in the world in implementing innovative financial solutions.

11% – the increase in payments volume using “Virtual coin pounds” in the UK over the past year.

12 international financial centers effectively operate in the country.

15% – the low corporate tax rate that makes the UK an attractive place for e-money business development.

20+ – the number of countries recognizing licenses obtained in the UK through Finexmo.

60+ employees of the Financial Conduct Authority (FCA) are engaged in e-money regulation.

3,600+ fintech companies operate in the United Kingdom, each of which can become a partner for your business.

£15,000 – the maximum annual fee for license usage.

£320 million – the amount invested in the country’s fintech sector in the first half of 2021.

£95 billion – the worth of “Online Wealth” transactions in the retail sector.

£200 billion – the expected volume of e-money transactions by 2025.

Mandatory requirements, in brief:

Collaboration between the international consulting company Finexam and your license applicant company is a key factor for successfully obtaining a Payment institution license in UK and developing your e-money business.

Required Elements:

  • List of proposed payment services.
  • Management system.
  • Internal procedures.
  • Initial capital.
  • Evidence of plans to open an account in a UK or European Economic Area bank.
  • Information about key persons responsible for payment services.
  • Data on significant stakeholders and agents.
  • Reporting procedures and data security measures.
  • Ready-to-use IT system.

Application processing time:

How long will you have to wait to obtain the desired document?

We would like to say that the FCA will complete its work faster than our employee will pour you a cup of coffee during our first meeting, but unfortunately, only the confirmation of the UK payment institution license application can take up to 7 days.

The decision-making process will be completed within a timeframe of 3 to 12 months, depending on the completeness and accuracy of the information provided. Thanks to cooperation with the international consultancy company Finexmo, the processing time will not exceed the minimum values.


To cover the expenses of processing the application and confirm the seriousness of the license applicant company’s intentions in the “Online Wealth” sector, the Financial Conduct Authority (FCA) of the United Kingdom has approved the following fees:

  • £500
  • £1,500
  • £5,000

This is the UK E-money license cost in British pounds. The amount varies depending on the type of license. Additionally, there is an annual fee payable to the FCA.

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