i-movo registration with Financial Services Authority

26 June 2012 • Authorisation to provide Money Remittance service under Payment Services Regulations 2009

The Financial Services Authority (FSA) have granted registration to i-movo as a Small Payment Institution (SPI) to carry on ‘Money Remittance’ payment services activities from 25 June 2012 under the Payment Services Regulations of 2009 (PSR).

All previous and existing services and schemes offered by i-movo (including CashOut) fall outside the scope of PSR but planned future developments, such as those where i-movo will handle customer funds, require registration.PSR was brought into force to improve the protection of consumers by ensuring that individuals reponsible for management, operation and ownership of SPI’s have the right level of integrity and competence to provide payment services.

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