The UK Financial Conduct Authority (FCA) today confirmed that Premier Payment Solutions Ltd, which traded as PPS Money and MTBS, entered liquidation.

Bai Cham and Gary Shankland of BTG Begbies Traynor were appointed joint liquidators.

PPS Money is registered as a small payment institution under the Payment Services Regulations 2017 (the PSRs). The firm provided money-remittance services, primarily supporting money service businesses to make cross-border payments, including through its network of FCA-registered agents, which are businesses or individuals registered to provide payment services on its behalf.

PPS entered liquidation after the directors determined that the firm could no longer continue trading. The joint liquidators are responsible for assessing customer claims against the firm and distributing funds back to customers where possible.

If you have any questions regarding the liquidation process, please contact: premier.ps@btguk.com.

Funds of PPS are not protected by the Financial Services Compensation Scheme (FSCS). The FSCS only applies to certain types of activity and does not cover payment services.

PPS Money was registered as a Small Payment Institution under the Payment Services Regulations 2017. Unlike some other payment firms, Small Payment Institutions are not required to safeguard customer funds under the PSRs.

Customers should monitor updates from the joint liquidators for information about the return of funds and the claims process:

• Phone: +44 (0) 1634 975440
• Email: premier.ps@btguk.com
• Website: www.btguk.com/restructuring
• Address: BTG Begbies Traynor, Unit F33, Innovation Centre Medway, Maidstone Road, Medway, ME5 9FD.