eMerchantPay, the European provider of online payment processing services to merchants worldwide, has been registered as a Payment Institution by the UK's Financial Services Authority (FSA UK).
With the newly achieved license, eMerchantPay has been authorized to carry out payment services activities, under the Payment Services Regulations 2009 (PSRs) by the Financial Services Authority of the UK.
The license covers payment services including cash placement services on a payment account, executing payment transactions (no credit line), executing payment transactions (credit line), issuing instruments / acquiring transactions and money remittance. It also covers payment transactions such as direct debits including one-off direct debits, payment transactions executed through a payment card or a similar device, credit transfers including standing orders.
Recently, eMerchantPay has joined forces with cashU, an online payment gateway in the Middle East and North Africa, to expand its presence in the Middle East and North Africa.
eMerchantPay provides online payment processing and settlement in over 40 worldwide currencies as well as a portfolio of payment methods that include credit cards, debit cards, online banking methods, e-wallets, micro-payments, alternative payments, local cards and direct debit.