payabl. Secures UK EMI License

payabl. Group, a brand launched in October 2021 by Powercash21 that is a regulated Payments Institution, has received an Electronic Money Institution (EMI) license in the UK, unlocking significant opportunities for the company to bring its range of competitive payments and financial solutions to the UK market.

With the new authorisation, payabl. can transfer its UK-based customers onto its UK EMI. Previously, the firm operated under the Financial Conduct Authority (FCA)'s Temporary Permission Regime (TPR).

"Becoming an authorised EMI in the UK is a major achievement for payabl. The whole team has worked incredibly hard on this, regularly engaging with the FCA to meet the requirements and we're extremely proud of our achievement," said Sean Forward, UK CEO at payabl.. "Being an authorised EMI provides us with a robust regulatory framework that’ll allow us to support UK merchants and allowing them to thrive, as we have been doing for merchants across Europe."

The next step for payabl. will be to grow its UK team, increasing its pool of talented payment professionals to support the company’s growth ambitions, as well as guiding its existing customers who already operate in Europe as they expand their presence in the UK, added Sean Forward.

"We're thrilled to be expanding our presence in the UK with the acquisition of an EMI authorisation. With this we can continue to focus on reaching new merchants and clients, evolve key partnerships and bolster our overall growth throughout the payments landscape," stated Ugne Buraciene, Group CEO at payabl.

In February, payabl. has appointed Thekla Paschali​ as its Chief Technology Officer.