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Banking Circle supports Payments Association FinTech Regulation Helpline
London, 11th April 2018 – The The Payments Association, with the support of its Benefactor, Saxo Payments Banking Circle, has launched a vital resource for early stage FinTech and PayTech companies. The Payments Association FinTech Regulation Helpline, which will be resourced by Banking Circle and Lipis Advisors, is set to provide useful guidance to help FinTechs navigate new payments-related regulations.
Initially the Helpline will be open twice a week for 3 hours per day, with a view to expansion as usage increases. It will operate on Tuesdays and Thursdays each week between 9:30am and 1:30pm.
The FinTech Regulation Helpline is being delivered under Banking Circle’s Benefactor support for the Payments Association’s Project International Trade. The project encourages trade between Payments Association members and organisations that use payments outside the UK, to stimulate the adoption of new payments products and services in emerging markets, and support the growth of early stage PayTech companies around the world. The project has been endorsed by Foreign Secretary, Boris Johnson, for its accomplishments in supporting and promoting international trade.
“The new Regulation Helpline is a way to de-mystify the complex world of payments for early stage FinTech businesses”, explained Tony Craddock, Director General of the Payments Association. “Regulations should be an enabler of innovation, not an obstacle to it. Through the Helpline, we hope to remove a barrier to entry and support entrepreneurs with great ideas to succeed in our thriving industry.”
Anders la Cour, Co-founder and Chief Executive Officer of Saxo Payments Banking Circle, added: “There have been major changes to regulation in recent months, with more to follow. Regulation is challenging for any business, but even more so for smaller firms with less experience. It is vital, therefore, that the industry helps small and young businesses get to grips with the new requirements, rather than risk non-compliance, which could have a devastating impact.
“We believe the Helpline will be invaluable to many companies in need of information and guidance in navigating the changing payments landscape, and we are proud to be playing such a fundamental role in supporting this service.”
Companies seeking guidance on new payments-related regulations can access the FinTech Regulation Helpline via the following numbers:
UK: 0044 20 39368390, Luxembourg: 00352 27863931
About Banking Circle
In 2013 Saxo Bank formed a new entity, Saxo Payments A/S, with the purpose of using Saxo Bank’s core capabilities within the non-cash payments market. In October 2015 the company launched the Banking Circle – its grounbreaking product for payments and FX to the Financial Tech industry. In October 2017, the company launched its new identity for the Banking Circle, to reflect its position as a financial utility within core banking.
Domiciled in the European Union, Saxo Payments specialises in providing global payment account transactions and foreign exchange services to financial institutions, including FinTechs, banks, acquirers, payment service providers, FX brokers, money transfer businesses, e-wallets, and alternative payment providers. Saxo Payments is a Saxo Group company.
For further information and interviews please contact the Banking Circle Press Office:
Wendy Harrison/Lucy Wright – Harrison Sadler
T: 0208 977 9132
About the The Payments Association
The Payments Association connects the payments ecosystem, encourages innovation and drives profitable business growth. Our goals are to strengthen and expand the payments industry to benefit all stakeholders.
We achieve this by shaping a comprehensive programme of activities for our members with help from an independent board, which addresses key issues impacting the industry. These include:
- Award ceremonies
- Critical industry projects
- Lobbying activities
- Training and development
The Payments Association is over 120 members strong and growing. Our members come from across the payments value chain; including payments schemes, banks and issuers, merchant acquirers, PSPs, retailers, and more. These companies have come together, from across the UK and internationally, to join our association, collaborate, and speak with a unified voice.
Want to find out more about membership?
Get in touch with Keri to find out more about becoming a member: firstname.lastname@example.org
For media enquiries:
The Payments Association
Catharina Hartmans| Senior Marketing Executive| email@example.com