The UK’s Financial Conduct Authority (FCA) has recently taken action to revoke the registration of PAYMENTSMB LIMITED as a Small Payment Institution under the Payment Services Regulations of 2017. This cancellation is effective from August 22, 2025.
The firm fell short of the requirement to provide payment services within the stipulated twelve-month period following its registration. Reports indicated that PAYMENTSMB did not engage in any payment services during the years 2020 and 2021. Furthermore, the company has not submitted its annual regulatory returns for the years 2022, 2023, and 2024, despite receiving multiple reminders and warnings from the FCA.
Considering the lack of activity and non-compliance, the FCA has determined that the firm has not delivered any payment services since it gained registration. This decision reflects the Authority’s commitment to upholding consumer protection and maintaining the integrity of the financial services sector.