RBK Money gets payments services authorization in the UK, aims for EU expansion
London/Moscow – RBK Money, a leading online payments provider in Russia, announced today that it has been granted the status of an Authorized Payment Institution by Financial Conduct Authority (FCA) in the UK. This enables RBK Money to offer its payment services across all the EU member states under the Payment Services Directive (PSD).
This also means that RBK Money will be regulated similar to other European Payment Institutions in relation to their capital adequacy, anti-money laundering procedures and data-protection, providing additional assurance to its clients and partners.
RBK Money became the first payment services company from Russia to obtain such credibility on the major international market. The company also operates its own e-money license in Russia since 2012, which enables RBK Money to offer international businesses a quick and easy access to the dynamic Russian market. Cross-border e-commerce sales in Russia are estimated to grow up to 100% in 2013 compared to the previous year.
Andrew Morozov, CEO says, “This is a major milestone in our international expansion and we are very proud to become a trusted and fully authorised payment institution in Europe. As a payments company, we put the trust of our customers as the highest priority and nothing may support this trust more than full compliancy with the tough FCA rules and requirements. As an Authorised Payment Institution, we are able to offer this additional level of security to our clients. RBK Money can now start growing its business throughout Europe and make a significant impact on the industry through the introduction of our innovative payment services, which are already very successful on other markets around the world”.
- About RBK Money
RBK Money is a payments platform for online businesses, which successfully mixes the innovative card payment interfaces with alternative payment methods for easy access to the emerging markets, all with a 100% fraud-protection guarantee. Users can make payments at online stores with the help of RBK Money e-wallet, pay for communication services, make money transfers, as well as withdraw funds to a bank account. RBK Money is head quartered in London, in the UK.
- About FCA
The Financial Conduct Authority (FCA) is a regulatory body in the United Kingdom. It operates independently from the government of the United Kingdom, and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the UK’s financial markets. It focuses on the regulation of conduct by both retail and wholesale financial services firms