The United Kingdom’s financial behavior Authority has canceled PaymentsMB Limited as a small payment institution in accordance with the 2017 Payment Service Regulations (“The PSR”).
The cancellation is valid since August 22, 2025.
The company failed to provide payment services within 12 months starting from the date on which its registration came into force. Specifically, the company said that it did not give payment services for the years 2020 and 2021.
In addition, despite repeated applications and warnings, the company failed to submit its annual regulatory return for the years 2022, 2023 and 2024.
Therefore, the Authority concluded that the company has not provided payment services from registration.
The cancellation action has been imposed to promote the Authority’s protection and integrity goals.