UK EMI The Payment Firm set to launch this summer
The Payment Firm, a new UK-based e-money institution (EMI), is gearing up to launch this summer.
FCA-regulated EMI The Payment Firm is expected to launch this summer
The London-based company describes itself as “a payments business offering services and solutions created for the user”.
While its specific services and solutions have yet to be detailed, its website pinpoints individuals, fintechs and businesses as its main target demographics.
Regulated by the Financial Conduct Authority (FCA), these services are expected to include cross-border payments, merchant services, card issuance, account-to-account payments, EMD services and real-time onboarding.
On the face of it, the company seems to be steering away from an overly complicated strategy, stating “no fuss, no razzmatazz and no social influencers”, and instead will look to carve out its own identity.
This direction appears to be confirmed by the company’s CEO, Gary Prince – who assumed the position in March of this year – through one of his most recent LinkedIn posts.
“Not another EMI, will undoubtedly be the protestations and claims. No, the business is not just another EMI, it is one under my tutelage,” Prince’s post reads.
“Those who know me well, will have a good understanding of the sort of things we will be doing (some mentioned, however many not yet!). I have never been a lover of the status quo (both following the norm and the band!),” Prince continues.
“There are many great words in the English language which begin with the letter D: deliver, disintermediate, destroy. However, by far my favourite one, has to be DISRUPT. That is certainly what this business will be doing, as being slightly cheaper and following the same pricing/business model is not disruption!”
In addition to confirming that announcements regarding the company’s partnerships and services will not be made until the output is live, Prince concludes his post by introducing the company’s new head of payments and operations, Andrew Wingfield, who assumed the position last month.
Prince and Wingfield are joined by executive director and chief operating officer (COO), Cavit Polat, with the three set to guide the company’s new image and launch over the coming months, with more hires expected to join the company soon.
