The UK Financial Conduct Authority (FCA) has revoked the registration of a payment services provider known as PAYMENTSMB LIMITED under the Payment Services Regulations 2017. This cancellation will take effect from August 22, 2025.
The decision arose because the firm failed to deliver any payment services for a full 12-month period following the activation of its registration. Specifically, the company reported no activity in the years 2020 and 2021. Moreover, despite numerous requests and warnings from the FCA, PAYMENTSMB LIMITED did not submit its annual regulatory returns for the years 2022, 2023, and 2024.
As a result of these findings, the FCA concluded that PAYMENTSMB has not engaged in any payment services since it was initially registered. The enforcement of this cancellation is in line with the FCA’s objectives to enhance consumer protection and maintain the integrity of the financial system.