The UK Financial Conduct Authority (FCA) has cancelled the authorisation of VS1 Business Services (Europe) Ltd as an Authorised Payment Institution.

The firm has failed to demonstrate a readiness and willingness to comply with its ongoing regulatory obligations.

Specifically, the Authority concluded that the firm has failed to pay overdue regulatory fees and levies owed to the Authority and submit its annual regulatory returns despite repeated requests to do so.

Therefore, the FCA found it desirable to cancel the firm’s authorisation as an API in order to protect the interests of consumers.

The firm has filed accounts with Companies House showing it to have been dormant since 2020. The Authority therefore considers that the Firm’s authorisation should be cancelled on the basis that it has ceased to engage in any business activity for more than six months.

The cancellation action has been imposed in order to advance the Authority’s consumer protection and integrity objectives.

The cancellation took effect on March 23, 2026.