Adyen obtains a banking licence in the UK

Thursday 7 September 2023 14:23 CET | News

The United Kingdom branch of Netherlands-based financial technology platform Adyen has obtained a banking authorisation.


The authorisation was granted by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) under Part 4A of FSMA 2000. 

This UK banking authorisation permits Adyen to sustain its UK operations, aligning with its existing services offered under the Temporary Permissions Regime. Adyen, as a local acquirer, maintains full control over its services, allowing UK customers to continue benefiting from its attributes of speed, flexibility, and reliability. 

Furthermore, this authorisation solidifies Adyen's role in the UK as a conduit for international commerce and growth, facilitating payments, data insights, and financial services, including their Embedded Financial Products, all within a single solution. 

The licence also enables Adyen to continue offering its recently launched embedded financial product suite in the UK, offering platform businesses the capability to provide financial products to their small and medium-sized business (SMB) users. This suite encompasses bank accounts, virtual or physical cards to streamline cash flow and expense management, and Capital, offering SMBs direct access to cash advances as needed. 

Representatives from Adyen talked about this recent development and emphasised the company's commitment to providing their customers with technology that helps them excel. In essence, the banking licence will augment the company's efforts to help domestic and international businesses achieve their ambitions faster.


The United Kingdom branch of Netherlands-based financial technology platform Adyen has obtained a banking authorisation.


What else has Adyen been up to?

Adyen offers end-to-end payments capabilities, data-driven insights, and financial products within a unified global solution in order to help businesses achieve their goals. With a global presence, Adyen collaborates with organisations such as Facebook, Uber, H&M, eBay, and Microsoft. The authorisation of Adyen as described in this announcement underscores the company's commitment to complying with evolving regulatory frameworks, allowing it to maintain its full range of services in the United Kingdom post-Brexit. 

In July 2023,  Adyen completed testing and certification for the FedNow Service, the Federal Reserve’s instant payment infrastructure. Following this announcement, Adyen gained the ability to provide real-time payment and payout services in the US. 

According to the company press release, in 2021, Adyen obtained a US banking branch licence, showcasing its long-standing commitment to commercially investing in the North American region. By being among the first industry players certified to access the FedNow Service, Adyen aimed to address US-based merchant needs through expanded real-time payments and by leveraging the financial technology platform’s payout capabilities.

For more information about Adyen, please check out their detailed profile in our dedicated, industry-specific Company Database.

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Keywords: banking license, regulation, fintech, payments , banking
Categories: Banking & Fintech
Companies: Adyen
Countries: United Kingdom
This article is part of category

Banking & Fintech


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