e-wallet and e-payment solutions Shrap Ltd (United Kingdom) is an electronic money institution authorized and regulated by the Financial Conduct Authority. Shrap is focused on e-wallet and e-payment solutions. The company offers e-wallet accounts, mobile app, small mobile payments to individuals, businesses. In 2023 Shrap Ltd had total assets of 11,965.00 GBP.
United Kingdom13 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, Shrap Ltd is assigned the overall rating 2.52 (poor) which is explained in details below.
| Operating Environment | Very Friendly | (4.81) |
| Product Range | Narrow | (1.54) |
| Market Niche | Average | (2.86) |
| Company Background | Average | (3.24) |
| Customer Support | Poor | (1.92) |
| Customer Sentiment | n/a | |
| Transparency | Average | (3.05) |
| Overall Rating | Poor | (2.52) |
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TheBanks.eu has also identified the following pros and cons of the company:
Receive the change on your phone or Shrap card
Shrap Wallet is a single-currency account, allowing the account holder to have funds in GBP only.
GBP (Pound sterling)Payment cards can be ordered together with Shrap Wallet. Both virtual and plastic cards are available.
Shrap 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.
Shrap Ltd is not registered with the FCA as a crypro asset firm.
Shrap do not offer crypto assets services.
| GBP | 2022 | 2023 | change (%) |
|---|---|---|---|
| Total Assets | 19,826.00 | 11,965.00 | -39.65% |
| Rank | Name | Market % | Total Assets |
|---|---|---|---|
| 223 (+5) |  Fintech Valley Ltd | 0.00 % | 21,996.00 GBP (+582.89%) |
| 224 (-4) | Shrap Ltd | 0.00 % | 19,826.00 GBP (-39.78%) |
| 225 (-4) |  FinPayTech Ltd | 0.00 % | 16,508.00 GBP (-33.68%) |
EnglishUnited KingdomShrap Ltd is authorized by the Financial Conduct Authority as a small e-money institution (reference number 900990) 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; the authorization was granted on 15 July 2019.
Shrap 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, Shrap is required to safeguard its customers’ money.
Since January 2021, Shrap Ltd can not conduct its activities in EEA member states.
114 Harewood Avenue Bournemouth, BH7 6NT, Bournemouth, United KingdomEnglish
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