FCA grants Authorised Payments Institution License to Trust Payments

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Mar 31, 2021, 10:54 ET

LONDON, March 31, 2021 /PRNewswire/ -- Trust Payments is pleased to announce that the United Kingdom's Financial Conduct Authority (FCA) has granted its subsidiary, TrustUK Payments Ltd, an Authorised Payment Institution (API) License. The license permits the company to engage in payment services directly in the UK without the need to rely on its existing EU licensing structures, or transitional arrangements in the wake of Brexit.

In 2020, Trust Payments has gone through rapid expansion, investing heavily in its technology and product capability.

FCA grants Authorised Payments Institution License to Trust Payments (PRNewsfoto/Trust Payments)

Daniel Holden, CEO, Trust Payments commented: "The UK has always been one of our biggest markets, and our headquarters are in London. Achieving the FCA license is strategically important to us as we can continue to fully operate in the UK without the need for temporary permissions, giving our customers and partners full reassurance of our stronghold in the UK. We will also continue to give our EU-based merchants focused services through our EU-license."

Trust Payments plans to further accelerate investment in the UK, with the establishment of a new operations centre to service UK based merchants and to complement the group's expanding global footprint.

About Trust Payments Group

Trust Payments is a global unified payments group for global pay-in, pay-out and customer journey technologies. Our mission is to help businesses to optimise their sales and customer experience through facilitating speedy and seamless payments, loyalty, and data management creating truly Converged Commerce. Our global technology platform connects to 50+ global banks to support multi-acquirer processing, as well as our own merchant acquiring solution in the EU, acquiring.com. The group holds Principal Memberships with Visa and Mastercard, as well as money transmission and gaming vendor licences in the US.

Our trusted and robust technology solutions process £2.6+ bn in annualised volume for 13,000+ businesses across eCommerce, mobile and Point of Sale (POS) in 15 like-for-like settlement currencies. Partners, developers and merchants who work with us benefit from our 24 years of payments experience in Retail, Travel, Hospitality, Gaming, Education, Financial Services and Emerging Verticals.

Visit us at www.trustpayments.com.

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SOURCE Trust Payments