UK Payments Register Round-Up: January 2026
The FCA’s first register movements of 2026 give an early snapshot of UK payments licensing throughput. We see three new Authorised Electronic Money Institution (AEMI) entries in January, alongside a cluster of Cancelled and Revoked Payment Services Regulations (PSRs) outcomes for payment institutions. The underlying source is the FCA’s public register data extracts and firm records, rather than commentary.
This is not just a “names list”. New AEMIs typically reflect applications that were submission-ready on governance, safeguarding design, AML controls, and reporting capability. Register exits, in contrast, often show what happens when authorisation is treated as the finish line, not the start of a regulated operating model. The FCA itself positions the Financial Services Register as the official public record for firms that are currently or previously authorised.
In this note, we summarise what changed in January 2026, then translate it into practical controls for EMI and PI operators: what to review after authorisation, what to evidence for supervisors, and how to keep your permissions aligned with the reality of your business.
Publish Date
12 Mar 2026
Reading Time
7 minutes
Category
Legal News
Jurisdiction
UK
What Changed In January 2026
Three New AEMIs Were Added To The Register
Based on the FCA’s EMI data extract, January shows three firms recorded as Authorised Electronic Money Institution with “since” dates in the month:
- Ripple Markets UK Ltd — AEMI since 09/01/2026.
- Crezco Limited — AEMI since 28/01/2026.
- Capi Money UK Ltd — AEMI recorded in the same January cohort.
Operator note: AEMI status tends to correlate with a project that was boring in the right way: clear safeguarding model, AML ownership, outsourcing governance, and RegData readiness. The register does not show “why” each firm was authorised, but it does show what the FCA has put on the public record.
A Concentration Of PI Exits Appeared Under The PSRs
January also shows multiple exits for authorised payment institutions, split into two visible patterns:
Cancelled – Authorised PI entries (examples captured in the FCA payment institution extract):
- Saturn Technologies Ltd — Cancelled – Authorised PI
- Choice International Limited — Cancelled – Authorised PI
- Choice Forex Ltd — Cancelled – Authorised PI
- Tranglo Europe Ltd — Cancelled – Authorised PI
Revoked – Payment Institution entries were also referenced in the same January round-up dataset, indicating removals from the authorised population.
Operator note: “Cancelled” can reflect voluntary withdrawal or business model change, while “Revoked” usually reads as a stronger supervisory outcome. The register entry alone does not provide the full fact pattern, so we treat causes as unknown unless there is a published FCA notice. What you can still learn from the cluster is that permissions hygiene is being actively maintained.
What This Means For EMI And PI Operators
Authorisation Throughput Still Exists, But It Rewards Preparation
The January AEMI additions show the FCA is processing well-prepared applications. That does not mean “fast approvals,” and it does not mean lower scrutiny. It means the winners tend to be firms that treat authorisation as a systems build, not as a legal filing.
If you are planning an EMI build in 2026, align your project to how the FCA frames the space: EMIs and PIs must meet requirements under the Electronic Money Regulations and Payment Services Regulations, with conduct and reporting obligations sitting alongside authorisation.
Register Exits Usually Reveal Weak “After Authorisation” Discipline
In our experience, exits tend to happen when one or more of the following becomes unmanageable:
- safeguarding operations that are documented but not actually followed
- outsourcing stacks that cannot be audited, logged, or exited cleanly
- reporting that is inconsistent between Finance and Compliance
- governance that exists on paper, but not in committee minutes and evidence packs
None of these are “mystical compliance concepts”. They are execution gaps, and they show up first when banking partners, auditors, or supervisors ask for reconcilable proof.
Practical Controls To Reduce The Risk Of Permission Drift
Post-Authorisation Checklist For 2026
- Safeguarding Evidence
- Confirm daily/periodic reconciliation is automated and reviewed.
- Keep an evidence pack: reconciliations, exception logs, approvals.
- Outsourcing And Vendor Oversight
- Maintain audit rights, incident obligations, and access to logs.
- Test exit plans for key vendors, not just write them.
- Regulatory Reporting Alignment
- Reconcile management reporting to financial statements inputs.
- Ensure Finance and Compliance use the same definitions.
- Permissions Reality Check
- Map live products and flows to permissions and limitations.
- Document gaps early, before a supervisor or bank does.
- Governance That Produces Artefacts
- Minutes, MI packs, breach logs, remediation tracking.
- If it is not evidenced, it did not happen.
January 2026 Snapshot Table
| Area | What We See | Practical Takeaway |
|---|---|---|
| AEMI Additions | 3 new AEMIs recorded in January | Build submission-ready programmes, not “application documents” |
| PI Exits | Multiple cancelled and revoked PI outcomes | Treat ongoing compliance as a standing operating system |
| Register Hygiene | Active maintenance of authorised population | Expect more scrutiny on permission drift and operational evidence |
FAQ About The FCA Payments Register Update For January 2026
How do we verify whether a firm is an EMI or PI in the UK?
Use the FCA Financial Services Register, which is the official public record of authorised and previously authorised firms.
Does a cluster of “Cancelled” entries mean enforcement?
Not necessarily. “Cancelled” may be voluntary, while “Revoked” tends to imply a stronger outcome. The register alone does not always disclose reasons without an accompanying FCA notice, so assumptions should be avoided.
What should an authorised firm prioritise after approval?
Focus on evidence-ready operations: safeguarding reconciliations, outsourcing oversight, consistent reporting logic, and governance that produces traceable artefacts.
