Sumup card payments
Discussion
I'm thinking of using Sumup to enable customers to pay me by card.
So,I check them out on the FCA register and this is on their listing....
"This is a firm that has our permission to issue electronic money (e-money) and provide payment services.This firm has requirements or restrictions placed on the financial services activities that it can operate. Requirements or restrictions can include suspensions. See the requirements applying to the firm."
one of the requirements being....
"Institution to refrain from AIS or PIS for an indefinite period
Must comply with the requirements in regulation 78A(2)(b)of the Electronic Money Regulations 2011 to refrain from providing account information services or payment initiation services for an indefinite period"
I don't know what to make of that,to me it sounds like they are barred from trading.Am I reading that wrong ?
So,I check them out on the FCA register and this is on their listing....
"This is a firm that has our permission to issue electronic money (e-money) and provide payment services.This firm has requirements or restrictions placed on the financial services activities that it can operate. Requirements or restrictions can include suspensions. See the requirements applying to the firm."
one of the requirements being....
"Institution to refrain from AIS or PIS for an indefinite period
Must comply with the requirements in regulation 78A(2)(b)of the Electronic Money Regulations 2011 to refrain from providing account information services or payment initiation services for an indefinite period"
I don't know what to make of that,to me it sounds like they are barred from trading.Am I reading that wrong ?
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