Payoneer acquired its e-money license from the U.Okay. Monetary Conduct Authority.The license will allow the digital commerce firm to proceed serving its U.Okay.-based prospects.Having earned the license, Payoneer now plans to develop its footprint within the U.Okay. area.
World digital commerce firm Payoneer acquired its e-money license from the U.Okay. Monetary Conduct Authority (FCA) this week. The license will allow Payoneer to proceed to offer its e-money companies to U.Okay.-based companies.
“The FCA historically units the tone of monetary regulation globally and due to this fact we’re extraordinarily proud to be receiving our e-money license within the U.Okay., mentioned Payoneer Cost Providers CEO and SVP of Payoneer Europe James Allum. “We’re excited to have the ability to proceed serving our prospects within the U.Okay. and with our relationship with the FCA. Our prospects within the UK now trust in Payoneer’s constant skill to offer regulated monetary companies of the best commonplace.”
With the brand new U.Okay. cash license, Payoneer will develop its footprint within the area, providing its digital cash companies to U.Okay.-based companies.
Payoneer was based in 2005 and gives multi-currency accounts to 5 million prospects starting from marketplaces, sellers, freelancers, gig staff, producers, banks, suppliers, and consumers. With a mission to “democratize entry to monetary companies and drive progress for digital companies of all sizes from all over the world,” Payoneer helps customers pay, receives a commission, and handle funds on a world scale. The corporate additionally gives working capital– offering advances to Amazon and Walmart sellers, in addition to to small companies.
In 2021, Payoneer went public by way of 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.
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