IFX assists clients with payment services under an Authorised Payment Institution (API)
Words by Juliet Takacs
Since November 1st 2009, Payment Services Regulations (PSR) were actioned by the Financial Services Authority (FSA). The PSR require that non-bank payment service providers, such as IFX, need to be registered with, or authorised by the FCA (previously the FSA). These regulations are designed to protect the customer and ensure best practice within the industry.
Authorised Payment Institutions are required to safeguard client funds held in relation to any electronic payment. Our providers have to meet stringent criteria set by the FCA in regard to their operating standards and corporate governance, including solvency, risk and management.
Our providers IFX are fully regulated and authorised by the FCA to help us provide cost effective and efficient payment services as and Authorised Payment Institution (API), under the Payments Services Regulations of 2009.
If you do require further information regarding any Due Diligence material you may require please get in contact with us and we will be happy to assist you, you can request information by emailing; firstname.lastname@example.org