digital finance and payment solutions for businesses PayrNet Limited (United Kingdom) is an electronic money institution authorized and regulated by the Financial Conduct Authority. PayrNet is focused on digital finance and payment solutions for businesses. The company offers banking as a service, cards as a service, credit as a service to institutions, businesses. In 2023 PayrNet Limited had total assets of 279.09 mln GBP, and generated net income of 4.53 mln GBP. During 2023 the company had 0 employees in average. In March 2023 PayrNet Limited was purchased and re-capitalised by a consortium led by D Squared Capital. Currently PayrNet Limited unable to accept or onboard any new agents or distributors without the explicit, prior written consent from our regulators. In June 2023, the Bank of Lithuania revoked the licence of the electronic money institution UAB PAYRNET for serious, systematic and multiple violations of legal acts.
Accounts offered by PayrNet as a part of BaaS are multi-currency accounts, allowing account holders to keep their funds in 2 currencies, namely:
EUR (Euro)
GBP (Pound sterling)PayrNet offers issuance of the following card types:
Reseller Agreement. A private reseller agreement is signed between PayrNet and the company.
Agent License. A private reseller agreement is signed between PayrNet and the company. PayrNet assists the company in obtaining EMD Agent License from the Financial Conduct Authority.
PayrNet 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.
PayrNet Limited is not registered with the FCA as a crypro asset firm.
PayrNet do not offer crypto assets services.
| GBP | 2022 | 2023 | change (%) |
|---|---|---|---|
| Total Assets | 456,107,714.00 | 279,093,460.00 | -38.81% |
| Turnover | 8,865,915.00 | 7,939,696.00 | -10.45% |
| Gross Profit | 7,847,480.00 | 7,333,554.00 | -6.55% |
| Net Income | -1,041,282.00 | 4,526,464.00 |
| Rank | Name | Market % | Total Assets |
|---|---|---|---|
| 16 () |  New Wave Capital Limited | 1.42 % | 460.91 mln GBP (+57.48%) |
| 17 | PayrNet Limited | 1.41 % | 456.11 mln GBP (+24.98%) |
| 18 (-5) |  WorldRemit Ltd | 1.35 % | 438.90 mln GBP (+14.84%) |
United KingdomPayrNet Limited is authorized by the Financial Conduct Authority as a e-money institution (reference number 900594) 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; the authorization was granted on 3 May 2018.
PayrNet Limited 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, PayrNet is required to safeguard its customers’ money.
Since January 2021, PayrNet Limited can not conduct its activities in EEA member states. PayrNet Limited keeps providing its services to EEA-based customers via UAB "PAYRNET" (Lithuania).
PayrNet Limited is a SWIFT member and a SEPA (SCT) scheme participant.
WeWork Waterhouse 138 Holborn, EC1N 2SW, London, United Kingdom
+44 2081448376EnglishPayrNet has profiles on the following social networks:
United Kingdom
United Kingdom
Lithuania
United Kingdom
United Kingdom
Ireland
