Introduction
The UK's Authorized Electronic Money Institutions (AEMI) are entities regulated by the FCA to issue and redeem electronic money.
Electronic money is a digital equivalent of cash stored on electronic devices or remote servers.
Additionally, AEMI can offer all services of a payment institution. An electronic money license is more suitable for businesses that wish to retain client funds for longer periods and offer stored value products.
Services AEMI Can Provide
1. Issuance of electronic money
2. Services for depositing cash into payment accounts and all operations required for operating payment accounts;
3. Services for withdrawing cash from payment accounts and all operations required for operating payment accounts;
o Executing payment transactions, including transferring funds on a user's payment service provider or other payment service provider's payment account;
o Executing direct debits, including one-off direct debits;
o Executing payment transactions through a payment card or similar device;
4. Executing credit transfers, including standing orders;
o Executing payment transactions where funds are covered by the payment service user's credit line;
o Executing direct debits, including one-off direct debits;
o Executing payment transactions through a payment card or similar device;
5. Issuing payment instruments (such as debit cards, credit cards) or acquiring payment transactions;
6. Money remittance;
7. Payment initiation services;
8. Account information services
Why Choose a UK Electronic Money License?
1. As of now, the UK has 240 authorized electronic money institutions. This is the highest number of EMIs in any jurisdiction within the EU.
2. The UK has over 1600 fintech companies, most of which are based in London. It is estimated that this number will more than double by 2030. London hosts numerous fintech-related conferences and exhibitions weekly, allowing you to meet potential partners, software suppliers, or clients without traveling far.
3. Almost all the "hot" fintech startups across Europe have a UK electronic money license and have set up their headquarters in London. The most important reason these companies choose London is that they see it as one of the cities with the best infrastructure and R&D capabilities. London also has abundant human resources, with many professionals working in the financial industry.
4. The UK offers appropriate corporate tax rates, excellent infrastructure, experienced regulators, and English as one of the most widely used languages globally.
These advantages make the UK, especially London, one of the best locations to obtain an electronic money license authorization.
However, with increasing regulatory challenges, acquiring a license for overseas financial operations and rapidly expanding overseas business and market share, purchasing a license on sale is undoubtedly one of the best options.
This issue, Oushin has compiled two UK electronic banking full license institutions currently for sale.
About Oushin
Oushin Overseas Asset Allocation Consulting Company is an international consulting firm established in Europe, primarily assisting clients in countries such as the UK, Ireland, Portugal, Lithuania, Malta, etc., with services including overseas fund establishment, overseas financial license application, overseas company establishment, overseas bank account opening, overseas real estate investment, and second identity planning.
Currently, the company can assist clients in applying for financial licenses, including forex broker licenses, electronic banking licenses, payment licenses, virtual currency trading licenses, and ICO virtual currency issuance licenses.
