French paytech Worldline lands Payment Institution licence from UK’s FCA
Worldline has received a Payment Institution licence from the Financial Conduct Authority (FCA) as it attempts to strengthen its position in the UK market.
Worldline receives Payment Institution licence from FCA
The Paris-listed payments firm had previously been operating acquiring, acceptance and other B2B payment solutions in the UK through the regulator’s post-Brexit Temporary Permission Regime (TPR).
With TPR set to end on 30 December, Worldline says the new authorisation will ensure business continuity, with plans to consolidate its merchant activities, “significantly invest” in its local offering and tap new domestic processing opportunities.
Worldline joins companies including paytech Payabl., payments processor Adyen and buy now, pay later (BNPL) giant Klarna on the list of financial services firms to renew their regulatory approval with the FCA this year ahead of the TPR deadline.
For Worldline, the regulator’s authorisation could ignite a new phase of growth after a lacklustre earnings report for Q3 2023 caused its shares to tumble almost 60% last month.
Commenting on the company’s new Payment Institution licence, Lee Jones, CEO of Worldline Merchant Services UK, claims it “sets us apart from many international competitors by bolstering our presence and enhancing our service capabilities”.
