eMerchantPay, a leading provider of online payment processing solutions to merchants worldwide, has been registered as a Payment Institution by the UK’s Financial Services Authority (FSA United Kingdom). With this registration, 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.
“We are delighted to mark our continued growth by obtaining Payment Institution status with the UK FSA. eMerchantPay continues to develop its business and this license will allow us to offer a greater number of services,” says Stephen Dickson, Chief Financial Officer at eMerchantPay. “As eMerchantPay expands its business, it continues to strengthen its position as a global leader and trusted partner through certification. eMerchantPay has been recognized as a payment provider that is secure, reliable and able to offer the best in payment transactions around the world.”
The license covers payment services such as:
· Cash placement services on a payment account
· Executing payment transactions (no credit line)
· Executing payment transactions (credit line)
· Issuing instruments / acquiring transactions
· Money remittance
The license also covers payment transactions that include: direct debits including one-off direct debits, payment transactions executed through a payment card or a similar device, credit transfers including standing orders. It also covers services enabling cash to be placed on a payment account and all of the options needed for operating a payment account.
Founded in 2002, eMerchantPay has established itself as a trusted global leader within the online payment processing market, offering an unrivalled level of stability and security to merchants operating across multiple industry sectors. eMerchantPay’s payment gateway is registered as Level 1 PCI DSS Compliant which ensures a robust payment card data security processes ” including prevention, detection and appropriate reaction to security incidents as well as flexible reporting and customization.
eMerchantPay has been awarded the prestigious ISO 9001:2008 Certification from the renowned management systems certification body – Lloyd’s Register Quality Assurance (LRQA).