Payoneer, a US-based cross-border digital payment provider, has received its electronic money licence from the UK’s Financial Conduct Authority (FCA).
The licence enables Payoneer to keep providing its services to UK-based businesses and expand its footprint in the country.
Payoneer, founded in 2005, received the licence via its subsidiary Payoneer Payment Services UK.
The paytech already holds licences or approvals in the US, Europe, Hong Kong, Japan, Australia and India.
Its services are aimed at SMEs, to pay and get paid, manage their funds and grow their businesses.
James Allum, chief executive officer of Payoneer Payment Services UK and senior vice president of Europe, commented: “The FCA traditionally sets the tone of financial regulation globally and therefore we are extremely proud to be receiving our e-money licence in the UK.
“We’re excited to be able to continue serving our customers in the UK and with our relationship with the FCA. Our customers in the UK now have confidence in Payoneer’s consistent ability to provide regulated financial services of the highest standard.”
Payoneer recently added to its executive team, hiring Adam Cohen as chief growth officer, Kivanc Onan as senior vice president of global product commercialisation and Kevin Ambrosini as senior vice president of corporate development.