FCA cancels PAYMENTSMB registration as Small Payment Institution
The UK Financial Conduct Authority has cancelled PAYMENTSMB LIMITED’s registration as a Small Payment Institution under the Payment Services Regulations 2017 (“the PSRs”).
The cancellation takes effect from August 22, 2025.
The firm failed to provide payment services within 12 months beginning with the date on which its registration took effect. Specifically, the firm reported having not provided any payment services for the years 2020 and 2021.
Additionally, despite repeated requests and warnings, the firm has failed to submit its annual regulatory return for the years 2022, 2023 and 2024.
The Authority therefore concluded that the firm has not provided any payment services since registration.
The cancellation action has been imposed in order to advance the Authority’s consumer protection and integrity objectives.
