Payments
Nayax UK receives FCA authorization for financial services
August 16, 2023
Nayax Ltd., a global commerce enablement and payments platform designed to help merchants scale their business, has established Nayax Financial Services Ltd., a financial entity with authorization from the United Kingdom's Financial Conduct Authority, according to a press release.
Lewis Zimbler, general manager of Nayax UK, will run Nayax Financial Services while the board of directors includes Paul Morgan, director of sales at Nayax UK; David Ben Avi, co-founder and CTO of Nayax; and Yair Nechmad, co-founder and CEO of Nayax.
Direct authorization as a payment and electronic money institution enables Nayax in the U.K. to support its customers and develop services with the reassurance that those services are designed to meet customer and regulatory standards and protections.
Nayax customers in the U.K. will not experience any change in their business. All funds and processes will be transferred from Nayax UAB's office in Lithuania to Nayax Financial Services Ltd. and Nayax customers will be notified directly of such changes as they apply.
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