Payment services provider Worldline (EPA:WLN) announces that it has been granted payment institution authorization by the Financial Conduct Authority (FCA).
The licensing confirms Worldline’s ambitions to further strengthen its presence in the UK and strengthen its offering for both local and international traders operating across the country.
Worldline will consolidate all of the merchant’s customer-related activities under one UK roof and invest significantly in its local customer offering.
This significant milestone demonstrates Worldline’s ability to navigate the complexities of UK regulation for the benefit of its customers. With the Temporary License Regime (TPR) due to expire later this year, Worldline’s new Payment Institution (PI) license ensures compliance and business continuity for all existing customers.
The new license also opens the door to domestic manufacturing capabilities, meeting evolving market needs. Worldline’s approach to full in-house purchases means that payment facilitation is entirely owned by the organization, enhancing transparency and reliability.
An expanded team of Worldline specialists in the UK will apply in-depth market knowledge to support merchant payment operations and cost optimization. With the new domestic license facility, dealers can rely on optimized exchange and program commissions and – with the help of the latest artificial intelligence – will see a further improvement in authorization rates.
Enhanced by the UK operations, Worldline will give customers access to the “best of features” available through Worldline’s global platform development programme.
“Worldline is committed to playing an important role in the post-Brexit UK payments landscape. I am proud to have been granted our new licence, which guarantees an even stronger presence in the UK market. Central to the breadth and excellence of our local service, it sets us apart from many international competitors by strengthening our presence and enhancing service capabilities, while providing more choice for UK merchants,” says Lee Jones, CEO of Worldline Merchant Services UK.