allpay had previously looked into applying for an e-money licence but hadn’t progressed the application due to a lack of experience and understanding around e-money licenses.
Mastercard, recommended Neopay in 2015 and since then, allpay has become fully authorised and continues to use a range of the services on offer, including the virtual compliance subscription service which provides benchmark work and training on annual accounts and regulatory controls.
“allpay has become fully authorised and continues to use a range of the services on offer”
As a new business, PaySay was faced with a bureaucratic, paperwork-heavy process from the UK’s high street banks. Unforeseen delays in securing a company bank account, threatened failure of the project before it had even launched and was costing the business an enormous amount of time and money.
We were able to introduce them to a banking partner in Europe that was able to set the business account up in half the time projected by the UK banks. We also helped PaySay meet all the complicated regulatory requirements to secure its API license.
“We also helped PaySay meet all the complicated regulatory requirements to secure its API license.”
Modulr is the Payments as a Service API platform built for digital businesses that need a faster, easier and more reliable way to move money.
In their mission to make money flow more efficiently through businesses and the economy, Modulr needed experts who had a working understanding of the issues faced by new companies with unique operational needs and timescales.
Neopay was proactive in assisting with the preparation of the application and Modulr became an Authorised Electronic Money Institution (FRN: 900573) within several months of their initial contact with us.
We were able to steer Modulr in the right direction and is still on-hand to fulfil any future licensing needs, further down the line.
“Modulr became an Authorised Electronic Money Institution (FRN: 900573) within several months of their initial contact with us.”
In 2012, WeSwap approached us to support and develop their regulatory framework and controls so they had the necessary structure to work as a programme manager.
WeSwap have since grown into one of the most internationally recognisable and innovative currency exchanges around and we continue to provide them with regulatory guidance to support their growth.
“We continue to provide them with regulatory guidance to support their growth.”
ECOMMPAY have sought to become a major player within the payments and processing industry with the mantra of bringing innovation, quality and leadership to do exceptional things.
To this end, Neopay partnered with ECOMMPAY to assist them in gaining authorisation from the Regulator to operate as a Payment Institution within the EU.
We also prepared ECOMMPAY to meet the rigorous requirements of Mastercard and Visa scheme membership, enabling passporting of their services throughout Europe.
“We also prepared ECOMMPAY to meet the rigorous requirements of Mastercard and Visa scheme membership”
Paysend wished to acquire a UK based Authorised E-Money Institution to leverage their license to provide international money transfers throughout the EU.
Our systematic approach began with a diagnostic analysis highlighting regulatory gaps before the notification process to the FCA. Our consultants worked with Paysend to develop their policies and documentation throughout the Change-In-Control application process.
Their positive experience lead Paysend to continue utilising us for regulatory support and guidance.
“Our consultants worked with Paysend to develop their policies and documentation throughout the Change-In-Control application process.”
Contact our team of experts today to see how our compliance solutions can help your business