Payoneer, a company that handles international payments, received approval from the Financial Conduct Authority to obtain its Electronic Money License.
The license will permit Payoneer to fully operate in the United Kingdom and provide its services to British businesses. The action reveals the payments company’s intention to grow its presence in the British digital finance industry. According to James Allum, CEO of Payoneer Payments Services UK Ltd and SVP Europe, the FCA traditionally sets the tone for global financial regulation.
According to Payoneer, the business has been granted permission to conduct business in Singapore and is awaiting its EMI from the UK, Europe, the US, Hong Kong, Japan, Australia, and India.
Read More: FCA grants UK e-money license to Payoneer