B4B Payments has been granted Authorised Payment Institute (API) status by the Financial Conduct Authority (FCA).
B4B Payments issues hundreds of thousands of prepaid cards across Europe. This new status will enable it to further enhance its product set and expand operations by offering additional payment services under its own licence whilst expanding the core functionality contained within its in-house software platform.
"We will continue to maintain our excellent relationships with our e-money BIN sponsorship partners and continue to grow the prepaid side of our business but this new status gives us increased access to the value chain and to offer additional payment services including bill payments to our wide ranging customer base," said Paul Swinton, CEO, B4B Payments. "This is an exciting period of growth for B4B Payments as our main products have grown by over 200 percent in the last year and we are looking to expand further in 2018.
"Obtaining FCA authorisation was a natural next step for B4B Payments as many of the processes required have been in place for many years, however we would like to thank NeoPay for their support in helping with the application."