card payment and merchant solutions Paynetworx Group Ltd (United Kingdom) is an electronic money institution authorized and regulated by the Financial Conduct Authority. Paynetworx Group is focused on card payment and merchant solutions. The company offers payment terminals, card acceptance to merchants. In 2023 Paynetworx Group Ltd had total assets of 2.19 mln GBP, and generated net income of -952,569.00 GBP. During 2023 the company had 15 employees in average.
13 August 2024, by Anna Mileiko
TheBanks.eu has developed a proprietary methodology to assign ratings to payment institutions based on their operating environment, company background, business model, market niche, product range, transparency, customer support and customer sentiment. According to the methodology, Paynetworx Group Ltd is assigned the overall rating 3.24 (average) which is explained in details below.
| Operating Environment | Very Friendly | (4.81) |
| Product Range | Narrow | (1.54) |
| Market Niche | Narrow | (2.29) |
| Company Background | Strong | (3.44) |
| Customer Support | Average | (2.67) |
| Customer Sentiment | Excellent | (4.71) |
| Transparency | Average | (3.05) |
| Overall Rating | Average | (3.24) |
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TheBanks.eu has also identified the following pros and cons of the company:
Paynetworx Group is neither registered with the Financial Conduct Authority (FCA) as a crypro asset firm, nor offers any crypto assets services.
From January 2020, firms carrying out specific cryptoasset activities in the United Kingdom need to comply with the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs) and to register with the FCA.
Paynetworx Group Ltd is not registered with the FCA as a crypro asset firm.
Paynetworx Group do not offer crypto assets services.
| GBP | 2022 | 2023 | change (%) |
|---|---|---|---|
| Total Assets | 2,366,773.00 | 2,190,836.00 | -7.43% |
| Revenue | 318,685.00 | 320,170.00 | +0.47% |
| Gross Profit | 154,241.00 | 240,573.00 | +55.97% |
| Net Income | -954,017.00 | -952,569.00 | -0.15% |
| Rank | Name | Market % | Total Assets |
|---|---|---|---|
| 131 (+52) |  WEAVEPAY LIMITED | 0.01 % | 2.42 mln GBP (+487.82%) |
| 132 (-6) | Paynetworx Group Ltd | 0.01 % | 2.37 mln GBP (+11.75%) |
| 133 (-30) |  Interpay UK ltd | 0.01 % | 2.35 mln GBP (-51.24%) |
United KingdomPaynetworx Group Ltd is authorized by the Financial Conduct Authority as a e-money institution (reference number 900355) for issuance of electronic money, placing cash to a payment account, withdrawing cash from a payment account, execution of payment transactions on a payment account (not covered by a credit line), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions, money remittance, execution of payment transactions via telecoms, IT system or network operator, granting of credit related to execution of payment transactions on a payment account; the authorization was granted on 21 May 2018.
Paynetworx Group Ltd is not a bank, it can't collect deposits from public or loan out its clients’ money. Hence, it does not have to participate in deposit guarantee schemes. However, Paynetworx Group is required to safeguard its customers’ money.
Since January 2021, Paynetworx Group Ltd can not conduct its activities in EEA member states.
Suite 3 Court Yard Offices Braxted Park Braxted Park Road, CM8 3GA, Witham, Essex, United Kingdom
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