At Neopay we specialise in providing regulatory compliance solutions for e-money institutions and payments institutions (payment service providers).
We offer unparalleled experience within these sectors. We deliver knowledge and expertise to help clients better understand the complex regulatory and business issues and their implications, enabling them to make better strategic decisions for their business.
Today cryptocurrencies have become a global phenomenon known to most people. Although still not fully understood by many, there are few who aren’t aware of the importance of this development in our market.
Although cryptocurrencies themselves aren’t regulated, many firms require other authorisations to provide the necessary services for their plans, including e-money or payments authorisations. At times, this can be more difficult than others, depending upon the attitude of regulators towards cryptocurrency at the time of application.
With our 100% success rate, including politically sensitive projects, we are the market leaders in gaining e-money and payments authorisations for these clients. We have helped many cryptocurrency firms achieve success with their e-money, payments and DLT licencing.
As well as supporting business operations, we also influence the development of supervision and regulation within these sectors. We have supported a number of EU based regulators, provided market feedback and training sessions for their employees, and collaborate regularly in the adaption of regulation. We have assisted various government departments, including HM Treasury and the Home Office, providing specialist knowledge and opinion on issues related to these industries.
Craig James, our CEO was until recently Chairman of the Prepaid International Forum (PIF), and our team are active members of the Regulatory Committee, providing specialist opinion and guidance, producing industry guidance and whitepapers and regularly speaking at international events.
Due to our role, we are continually involved with issues relating to competition and regulatory policy within the market. In particular, we have been engaged in various aspects of the relationship between the banking sector and their competitors in the provision of payment services. We have investigated various issues, including excessive barriers to entry through stipulations on the creation of accounts, the withdrawal of services for small firms and excessive fees for firms offering certain competitive products. We have collaborated with the Office of Fair Trading, the Treasury and the Regulator on these matters, investigating and gathering evidence, providing information from industry members and making the case for our market to protect competition and therefore the interests of firms and the consumer.
