B2B Payment Solutions has announced that the United Kingdom’s Financial Conduct Authority (FCA) has granted the company an Electronic Money Institution License (AEMI).
The licence permits companies to engage in e-money related and payment services in the UK and European Economic Area (EEA). As a regulated AEMI e-money provider, B2B Payment Solutions will now be able to act as a payment intermediary. The company’s primary focus is to offer payment services to regulated Forex brokers and licensed liquidity providers as well as corporate IT businesses and ecommerce companies, according to the official press release.
Moreover, it aims to create an ecosystem where brokers will be able to deposit and withdraw funds to and from margin accounts and their end-users across Europe and the UK. The company will therefore offer digital banking services that are ideally geared up for the regulated brokerage industry.
According to company estimations, there are over 1,000 regulated brokers and liquidity providers with hundreds of thousands of end users, all of whom will be able to deposit and withdraw in just seconds. In this respect, B2B Payment Solutions will offer sub IBANs, SEPA transfers and Faster Payments.
Other plans include the addition of further services including SWIFT transfers, card processing, and electronic money wallets. The company also intends to start offering the same services to other types of regulated financial institutions who possess PI, API, EMI and AEMI licenses.
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