The UK Financial Conduct Authority (FCA) has cancelled Ponto Tech LTD’s registration as a Small Payment Institution under the Payment Services Regulations 2017 (“the PSRs”).
The Authority has concluded that the firm is no longer meeting the requirement of being included on the register maintained by HMRC under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
Furthermore, the firm has not provided payment services since 2020.
In concluding that it is appropriate to impose the cancellation action, the Authority considers that it is appropriate to do so, in order to advance its consumer protection and integrity objectives.
The cancellation takes effect from March 19, 2025.
