Firms that execute payment services or issue electronic money in the UK must be authorised or registered by the Financial Conduct Authority (FCA) under the Payment Services Regulations or Electronic Money Regulations. Some firms also operate under banking licences.
London businesses choosing a processor should distinguish between merchant acquiring, payment facilitation and gateways, since each has different settlement times and fee structures. Firms using an EU-authorised entity should confirm what UK permissions it holds post-Brexit.
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Use the sourced market guidance above to evaluate providers directly with the national regulator and each provider before opening an account.
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Disclosure: Digital Bank Networks is not a bank. We are an independent comparison platform. Some of the providers on this page are our affiliate partners, and we may receive compensation when you open an account through our links. This does not affect our ratings or rankings, which are based on independent analysis. All information is provided for educational purposes only. Please review each provider's terms and conditions before opening an account.