FCA · Electronic Money Regulations · UK Payments
United Kingdom EMI & Authorised Payment Institution Licensing
Build a UK-regulated payments business for wallets, cards, transfers, acquiring and remittance. Licensium manages the FCA application, governance, safeguarding, AML/CFT, technology evidence and banking workstream as one structured engagement.
Regulatory briefing
The UK Regulatory Framework Behind Your Payment Business
FCA authorisation as an EMI or Authorised Payment Institution can support UK wallets, payment accounts, card programmes, transfers, acquiring and remittance. The application must show that the proposed management team, capital, safeguarding, technology, outsourcing and AML/CFT framework can operate in practice.
The UK is a standalone market after Brexit. A UK authorisation does not automatically passport into the EEA, so groups serving both markets often use a UK entity alongside an EU/EEA authorisation and document the governance and customer journeys between them.
Licensium prepares a regulator-ready dossier and a bankable operating narrative rather than treating the application as a form-filling exercise.
Activities Covered
- UK e-money and payment accounts
- Cards, acquiring and merchant settlement
- Transfers, remittance and FX
- Safeguarding, reporting and wind-down
Jurisdiction Advantage
Why the UK Can Fit a Serious Fintech Strategy
Recognised Regulator
FCA authorisation is familiar to UK banks, schemes, enterprise buyers and payment partners.
Clear UK Perimeter
We define the exact EMI/API permission, customer journey and financial-promotion perimeter before filing.
Parallel EU Planning
Where needed, we design the UK and EEA entities as one controlled group rather than assuming passporting.
Application Standard
What an FCA Application Must Demonstrate
Ownership & Management
Controllers, directors, SMF responsibilities, fit-and-proper evidence, local substance and governance.
AML & Safeguarding
Risk assessment, KYC/KYB, monitoring, safeguarding accounts, reconciliations and wind-down planning.
Business Plan & Capital
Three-year forecasts, capital calculations, funding sources, transaction flows and customer-money assumptions.
ICT & Outsourcing
Operational resilience, cyber controls, vendor oversight, data protection and incident response.
Execution Roadmap
From Product Fit to a Working UK Payment Institution
Scope & Feasibility
Map the product, customers, markets, capital and UK permissions.
Dossier Preparation
Draft governance, AML/CFT, safeguarding, ICT, outsourcing and wind-down controls.
FCA Dialogue
Coordinate certified documents, interviews and clarification responses.
Banking & Launch
Support safeguarding, settlement, scheme and operational testing.
Financial Planning
Indicative UK EMI Setup Costs
Planning range: £80k–150k, excluding the £350,000 EMI own-funds requirement itself. A PI/API route may have a lower capital threshold depending on services.
| Cost layer | Indicative range | Frequency |
|---|---|---|
| Application and legal dossier | £30k–55k | One-off |
| Substance and governance | £20k–45k | Annual |
| AML, safeguarding and ICT controls | £18k–35k | Annual / setup |
| Banking and scheme onboarding | £10k–25k | One-off |
Benchmarking
United Kingdom Compared With Other Fintech Hubs
| Jurisdiction | Regulator | Capital | Timeline | Access |
|---|---|---|---|---|
| United Kingdom | FCA | £350k EMI / £125k API | 6–12 months | UK market |
| Ireland | Central Bank | €350k / €125k | 6–9 months | EEA passporting |
| Lithuania | Bank of Lithuania | €350k / €125k | 4–6 months | EEA passporting |
| UAE — DIFC | DFSA | Activity-dependent | 4–6 months | GCC/MENA |
FAQ