ePayments Systems Enters Special Administration, FCA Confirms

ePayments Systems Limited (EPS) entered special administration on October 15, 2026, the UK Financial Conduct Authority (FCA) has confirmed. Mark Boast and Allister Manson of Opus Restructuring LLP have been appointed as joint special administrators.

EPS is authorised by the FCA to issue e-money under the Electronic Money Regulations 2011 (EMRs). The special administrators are responsible for managing customer claims against the firm and returning funds to customers where possible.

Client funds are not protected by the Financial Services Compensation Scheme (FSCS), as FSCS protection only applies to certain types of activity and does not cover payment services.

E-money firms must comply with safeguarding requirements on how to protect customers’ money. This means the firm was required to hold money separately for its customers. The special administrators will assess all funds held by the firm to confirm the current position.