What is a Payment Service Provider?
A Payment Service Provider, or PSP, is a broad term used for organisations that provide payment services.
However, merchants should be careful with the term because it can mean different things depending on the context.
In UK regulation, Payment Service Provider has a formal meaning under the Payment Services Regulations 2017.
In everyday merchant-services language, PSP is also commonly used to describe payment companies that combine several capabilities into one service, potentially including:
- payment gateways
- card processing
- acquiring
- alternative payment methods
- fraud tools
- tokenisation
- recurring payments
- reporting
- multi-currency payments.
Not every PSP provides all of these services.
A PSP may itself be the merchant's acquirer.
Another PSP may connect merchants to one or more separate acquiring partners.
A Payment Facilitator may also be a type of PSP depending on the structure, while a standalone gateway or technical processor is not automatically a PSP in the regulatory sense.
The useful question for a merchant is therefore not simply:
“Who is our PSP?”
It is:
“Which payment services does this company actually provide, and which other organisations sit behind it?”
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What does PSP mean in UK regulation?
The UK Financial Conduct Authority provides a formal definition of a Payment Service Provider under the Payment Services Regulations 2017.
Depending on the circumstances, the definition can include organisations such as:
- authorised payment institutions
- small payment institutions
- registered account information service providers
- banks and other credit institutions
- electronic money issuers
- certain other organisations permitted to provide payment services.
The important point for merchants is that PSP is not simply another name for an online card processor.
It is a much broader regulatory concept.
View the FCA definition of Payment Service Provider.
What counts as a payment service?
The FCA identifies a range of activities covered by the Payment Services Regulations.
These include, among other services:
- operating certain payment accounts
- executing payment transactions
- card-payment transactions
- issuing payment instruments
- acquiring payment transactions
- money remittance
- payment initiation services
- account information services.
This is important because it means the term PSP extends far beyond merchant card processing.
For example:
a merchant acquirer is providing a payment service.
So is a money-remittance business.
So can an organisation providing payment initiation services.
They may all fall within the broader PSP definition even though their commercial products look very different.
Read the FCA's Payment Services Regulations guidance.
Why does the payments industry use PSP differently?
Merchant-services terminology does not always mirror regulatory terminology perfectly.
Within commercial payments, “PSP” is often used to describe a provider offering merchants an integrated way to accept different types of payments.
That could mean a provider combining:
gateway + processing + acquiring + payment methods + fraud tools
within one platform.
Another provider described as a PSP might provide only some of those components and connect to separate partners for the rest.
For this reason, Merchant Advice Service distinguishes between:
- the formal regulatory meaning of PSP
- the commercial way the term PSP is used within merchant payments.
When comparing providers, capability and legal structure are more useful than the marketing label alone.
What services can a merchant PSP provide?
Depending on the provider, a merchant-facing PSP may provide or integrate several payment capabilities.
Payment acceptance
This can include:
- credit cards
- debit cards
- digital wallets
- bank payments
- Buy Now, Pay Later
- local payment methods
- other alternative payment methods.
Payment gateway
The PSP may provide the gateway technology connecting the merchant's website, app or other payment environment into the payment infrastructure.
Payment processing
The provider may process and route transaction information between different organisations involved in the payment.
Acquiring
Some PSPs are also acquirers.
Others connect merchants to separate acquiring partners.
Fraud and authentication
Services may include:
- 3D Secure
- fraud screening
- transaction rules
- risk scoring
- device or behavioural signals.
Tokenisation
A PSP may provide tokenisation for stored cards, recurring payments or other payment use cases.
Subscriptions and recurring payments
Some PSPs provide:
- stored payment credentials
- recurring billing
- subscription management
- retry functionality
- account updating or token lifecycle functionality.
International payments
Depending on the provider, this can include:
- multiple presentment currencies
- multiple settlement currencies
- local payment methods
- international or local acquiring
- foreign-exchange services.
Reporting and reconciliation
More advanced PSPs can provide consolidated payment reporting across several payment methods, markets or channels.
Does a PSP always include a payment gateway?
No.
A full-service merchant PSP may provide its own gateway, but PSP and gateway are not interchangeable terms.
A payment gateway is primarily a technical component used to transmit payment information.
The gateway may be provided by:
- the PSP
- the acquirer
- an independent gateway provider
- an orchestration platform
- another technology company.
A business can therefore have:
one PSP + a separate gateway
or:
a PSP that includes the gateway within its platform.
Read our Best Payment Gateways for UK Businesses guide.
PSP vs acquirer: what is the difference?
This is one of the most important corrections to older explanations of PSPs.
A PSP and an acquirer are not automatically two different organisations.
The FCA defines an acquirer as a Payment Service Provider that contracts with a payee to enable it to accept payment transactions which result in funds being transferred to the payee.
In other words:
an acquirer can itself be a PSP.
A merchant might therefore use:
- a PSP that also provides the acquiring service
- a PSP connected to a separate acquirer
- a PSP connected to several acquirers.
The structure varies.
View the FCA definition of an acquirer.
Does a PSP mean you do not have a direct acquiring relationship?
No.
This is another common oversimplification.
Some payment models do place another organisation between the merchant and the underlying acquiring relationship.
But it is incorrect to define every PSP as a provider that sits between a merchant and an acquirer.
The PSP may itself provide acquiring.
Equally, an integrated PSP may combine gateway, processing and acquiring into one merchant relationship.
Before choosing a provider, ask:
- Are you our acquirer?
- If not, who is?
- Which legal entity contracts with us?
- Who makes the underwriting decision?
- Who ultimately settles our funds?
PSP vs PayFac: what is the difference?
A Payment Facilitator is a specific payments model. PSP is a broader term.
A PayFac operates within an acquiring programme and can onboard businesses as sub-merchants or sponsored merchants.
The PayFac may take significant responsibility for:
- KYC and KYB
- merchant onboarding
- risk assessment
- merchant monitoring
- payouts
- chargebacks.
A Payment Facilitator may itself fall within the broader definition of a PSP depending on the structure and services it provides.
But:
not every PSP is a PayFac.
Read our Payment Facilitators (PayFacs) guide.
PSP vs ISO: what is the difference?
An Independent Sales Organisation or ISO is primarily associated with the distribution and sale of merchant services.
An ISO may:
- introduce merchants
- help prepare applications
- package payment products
- provide terminals
- provide merchant support
- work with one or more acquiring partners.
An ISO is not automatically the organisation providing the underlying regulated payment service.
A PSP, by contrast, refers to the provision of payment services in the formal regulatory context, while in commercial use it is often used for a broader payment platform.
This is why ISO and PSP should not simply be used as interchangeable labels.
For the full structure, read our ISO vs PayFac vs PSP vs Acquirer guide.
PSP vs payment processor: what is the difference?
A payment processor performs technical transaction-processing functions.
A PSP may provide processing, but a processor is not automatically a PSP in the regulatory sense simply because it handles payment data.
The FCA's Payment Services Regulations guidance specifically distinguishes regulated payment services from certain technical services.
Technical activities can include services such as:
- processing payment data
- storing data
- providing IT infrastructure
- providing communications infrastructure
- supplying or maintaining payment terminals.
Where a company only provides technical infrastructure and does not itself provide a regulated payment service, the regulatory position can therefore be different.
PSP vs payment gateway
| | Payment Service Provider | Payment Gateway |
|---|
| Meaning |
Broad payment-services term |
Payment technology component |
| Acquiring |
May provide acquiring or connect to an acquirer |
Does not automatically provide acquiring |
| Processing |
May provide processing |
Usually connects transactions into processing infrastructure |
| Settlement |
Depends on the PSP structure |
A gateway alone does not necessarily settle merchant funds |
| Payment methods |
May aggregate access to multiple methods |
May technically support one or several methods |
| Regulatory status |
May be providing regulated payment services |
Purely technical gateway services do not by themselves constitute acquiring |
Is an EMI the same as a PSP?
No, but an Electronic Money Institution can be a PSP when it provides payment services.
An Electronic Money Institution, or EMI, is authorised or registered to issue electronic money under the relevant UK regulatory framework.
Electronic money is electronically stored monetary value representing a claim on the issuer and issued on receipt of funds for making payment transactions.
An EMI may also provide payment services.
So:
EMI describes a particular regulatory type or activity.
PSP is the broader payment-services term when relevant payment services are being provided.
This distinction becomes particularly important for businesses using payment accounts, wallets, marketplace infrastructure or platforms that hold and move funds.
Does a PSP use a shared merchant account?
Not necessarily.
This is another statement that should not be used as a definition of PSP.
Different structures can include:
- direct acquiring relationships
- individual Merchant IDs
- multiple Merchant IDs
- PayFac sub-merchant structures
- platform payment accounts
- multiple acquiring relationships.
The exact arrangement depends on the provider.
Using an aggregated or sub-merchant structure is therefore a characteristic of certain models, particularly Payment Facilitation, rather than a universal feature of every PSP.
How does a PSP payment transaction actually work?
There is no single transaction flow that applies to every PSP.
A simplified full-stack card-payment arrangement might look like:
Customer → PSP → Card Network → Issuer → PSP / Acquirer → Merchant
But a more modular setup might involve:
Customer → Gateway → Processor → Acquirer → Card Network → Issuer
with a PSP providing or coordinating some of those components.
A PayFac structure could introduce another merchant-management layer.
This is why describing every transaction as:
merchant → PSP → acquiring bank → merchant
can be misleading.
The actual structure should be confirmed with the provider.
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Who underwrites a merchant using a PSP?
It depends on the payment model.
Underwriting might be controlled by:
- the PSP itself
- the PSP's acquiring division
- an external acquirer
- a Payment Facilitator operating within an acquiring programme
- several parties under delegated risk arrangements.
The merchant-facing provider may collect the application without making the ultimate risk decision.
This matters particularly for businesses with:
- unusual sectors
- higher chargeback exposure
- high transaction values
- future delivery
- international customers
- complex settlement requirements
- regulated products or services.
Ask the provider:
“Whose risk appetite ultimately determines whether you can support our business?”
Do PSPs offer faster onboarding?
Some do, but this is not part of the definition of a PSP.
Technology-led providers can automate substantial parts of:
- identity verification
- business verification
- document collection
- risk screening
- account configuration.
This can make onboarding fast for straightforward businesses.
Other merchants can still require manual underwriting and additional documentation.
No legitimate payment structure removes the need for appropriate verification and risk controls simply because a business is using a PSP.
For more information, read our Fast Merchant Account Approval guide.
How do PSPs make money?
Pricing structures vary substantially.
A PSP could potentially charge:
- a percentage of each transaction
- a fixed fee per transaction
- a monthly platform fee
- a gateway fee
- payment-method fees
- chargeback fees
- cross-border charges
- foreign-exchange charges
- terminal charges
- additional fraud or technology fees.
Pricing may be:
- blended
- Interchange+
- Interchange++
- custom negotiated
- a combination of fixed and variable fees.
This is why it is inaccurate to say that PSPs always use blended pricing or that PSP pricing is always more expensive than traditional acquiring.
The merchant should compare the actual commercial proposal.
Is a PSP cheaper than a traditional merchant account?
Sometimes. Sometimes not.
The answer depends on:
- transaction volume
- average transaction value
- card mix
- countries
- currencies
- payment methods
- gateway requirements
- fraud services
- commercial pricing.
An integrated PSP may reduce the cost and complexity of maintaining several separate providers.
Another merchant may achieve better economics with separate acquiring, gateway and technology arrangements.
Businesses should compare total payment cost rather than provider type.
PSP vs merchant account: are they alternatives?
Not necessarily.
This is another area where older payments terminology can create confusion.
A merchant account relates to the acquiring structure used to accept and settle card transactions.
A PSP describes a payment-service provider.
The two concepts are therefore not mutually exclusive.
A PSP may:
- provide the merchant acquiring relationship itself
- arrange access to an acquiring relationship
- operate a PayFac model
- provide other payment services alongside acquiring.
The useful comparison is not simply:
PSP vs merchant account.
It is:
What acquiring and payment structure does this PSP provide?
What should UK businesses check about PSP regulation?
Businesses should identify the legal entity actually providing the payment service.
This is important because the brand displayed on a website may not be the same name as the company that is authorised or registered.
The FCA specifically recommends identifying the company operating behind a payment brand and checking the appropriate regulatory information.
Start by looking at:
- the provider's website footer
- terms and conditions
- merchant agreement
- regulatory disclosure
- FCA reference number where applicable.
You can then check the organisation using the FCA Financial Services Register.
Search the FCA Financial Services Register.
The question is not simply:
“Is this brand on the FCA Register?”
It is:
“Which legal entity provides our payment service and does it have the appropriate regulatory status for what it is doing?”
Are all payment companies FCA authorised?
No.
The regulatory requirements depend on the activities performed.
Businesses providing payment services as a regular occupation or business activity in the UK generally need the appropriate authorisation or registration unless another permitted status, exemption or exclusion applies.
But a business providing only certain technical services may not itself be providing a regulated payment service.
For example, the FCA identifies a technical-services exclusion covering certain supporting services where the provider does not enter into possession of the funds being transferred.
Determining whether a particular business requires authorisation is a regulatory question based on its actual activities, not simply its marketing description.
How are funds protected when using a non-bank PSP?
This depends on the provider and the type of account or service being used.
The FCA currently distinguishes between banks and non-bank payment providers such as:
- Authorised Payment Institutions
- Small Payment Institutions
- Electronic Money Institutions.
For relevant customer funds, the protection model can differ from money held as a deposit with a UK bank.
The FCA states that Authorised Payment Institutions and Electronic Money Institutions are subject to safeguarding requirements, while Small Payment Institutions are not required to safeguard funds in the same way.
Safeguarding is also not the same thing as Financial Services Compensation Scheme deposit protection.
This area can become particularly important where a business holds substantial balances with a non-bank payment provider rather than simply receiving card settlement.
Read the FCA's guidance on using non-bank payment service providers.
What payment methods should a PSP support?
The right answer depends on where your customers are and how they want to pay.
Potential requirements include:
- Visa and Mastercard
- American Express
- Apple Pay
- Google Pay
- bank payments
- Buy Now, Pay Later
- local European payment methods
- international alternative payment methods.
A long list of supported payment methods is not automatically better.
A UK merchant with predominantly domestic customers may value excellent card acceptance and reliable settlement more than access to dozens of payment methods its customers never use.
An international ecommerce company could reach the opposite conclusion.
Does the PSP support the right currencies?
International businesses should distinguish between:
- customer or payment-method currency
- presentment currency
- settlement currency.
A PSP may support many currencies for payment acceptance but a smaller number for settlement.
The merchant should also investigate:
- FX conversion
- cross-border fees
- local acquiring
- bank-account requirements
- foreign-currency refunds.
Read our Multi-Currency Merchant Accounts and International Card Payments guide.
Can a PSP support high-risk businesses?
It depends on the individual provider and acquiring structure.
“PSP” does not describe a universal risk appetite.
One PSP may support relatively straightforward retail and ecommerce businesses.
Another may specialise in sectors with more complex underwriting requirements.
The provider's ability to support a merchant can depend on:
- Merchant Category Code
- products and services
- customer geography
- business location
- transaction values
- chargeback exposure
- delivery period
- licensing or regulation
- underlying acquiring relationships.
This is why merchants should compare risk appetite rather than simply searching for a provider labelled as a PSP.
Can a PSP support multiple acquirers?
Some can.
A more advanced payment platform may connect merchants to multiple acquiring relationships.
Potential reasons include:
- different countries
- different merchant entities
- different risk requirements
- payment resilience
- different currencies
- routing requirements.
But merchants should not assume that a PSP advertising global payments automatically provides multiple acquiring relationships for every customer.
Ask exactly which acquirers can be used within your account.
Businesses that need greater acquiring flexibility may also want to read our Acquirer-Agnostic Payment Gateways guide.
When might a business need payment orchestration rather than one PSP?
A single full-service PSP can be an efficient solution for many merchants.
However, more complex businesses may eventually want to connect several:
- PSPs
- acquirers
- gateways
- fraud tools
- payment methods.
A payment-orchestration layer can help manage connections between different payment services.
This can become relevant where businesses need:
- multi-provider routing
- several acquiring relationships
- regional payment coverage
- resilience
- centralised payment configuration.
It does not mean every growing merchant needs orchestration.
Read our Payment Orchestration guide.
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What integrations should you check before choosing a PSP?
Commercial terms are only one part of the decision.
The payment service also needs to work with your existing technology.
Check compatibility with:
- ecommerce platform
- EPOS
- booking system
- CRM
- accounting software
- subscription system
- mobile app
- marketplace technology
- other business software.
For more bespoke systems, investigate:
- API documentation
- webhooks
- SDKs
- tokenisation
- testing environments
- developer support.
Who owns the payment tokens?
This is particularly important for businesses storing cards or taking recurring payments.
A merchant should establish:
- where payment credentials are stored
- whether the provider uses proprietary tokens
- whether network tokens are supported
- whether credentials can be securely exported or migrated
- what happens to subscriptions if the PSP changes.
Provider lock-in can be technical rather than contractual.
A merchant might have a flexible commercial agreement but still face a substantial migration project if thousands of recurring customer credentials depend on provider-specific tokens.
Read our Changing Payment Gateway: Moving Stored Cards, Tokens and Recurring Payments guide.
What should you know about PSP settlement?
Do not assume that every PSP operates settlement in the same way.
Check:
- who legally owes the merchant the settlement
- which organisation sends funds to the bank account
- normal settlement time
- weekend settlement
- foreign-currency settlement
- reserve arrangements
- refund funding
- negative balance procedures
- when settlement can be delayed.
For a merchant, the settlement model can be just as important as the transaction-processing technology.
What happens to chargebacks?
The organisation that provides the merchant dashboard may not be the only organisation involved in chargeback management.
Depending on the structure, disputes can involve:
- merchant
- PSP
- PayFac
- processor
- acquirer
- card network
- issuer.
Before choosing a PSP, establish:
- who notifies you of disputes
- where evidence is submitted
- who deducts disputed funds
- what chargeback fees apply
- who monitors chargeback ratios
- who can impose a reserve or other risk controls.
What happens if the PSP terminates your account?
The answer depends on the structure and contractual terms.
A suspension or termination could involve decisions by:
- the PSP
- the PayFac
- the underlying acquirer
- other organisations within the payment chain.
Merchants should understand:
- who controls account termination
- what happens to unsettled funds
- whether a reserve can remain in place
- how refunds continue to be processed
- how historic chargebacks will be dealt with
- whether stored credentials can be moved.
When is an all-in-one PSP useful?
An integrated PSP can make sense where a business wants to reduce the number of separate payment relationships it manages.
Potential benefits can include:
- one integration
- centralised reporting
- multiple payment methods
- simpler reconciliation
- integrated fraud tools
- international payment capability
- one commercial relationship for several payment functions.
This can be attractive to businesses that value operational simplicity.
When might a modular payment setup be better?
Other merchants may prefer to separate:
- acquiring
- gateway
- fraud
- tokenisation
- orchestration
- other payment technology.
Potential reasons include:
- greater negotiating power
- multiple acquirers
- specialist functionality
- avoiding dependence on one provider
- complex international operations
- specific technical requirements.
There is no universally superior model.
The correct architecture depends on the business.
How to compare Payment Service Providers
| Compare | What to establish |
|---|
| Legal entity |
Which company actually provides the payment service? |
| Regulatory status |
What permissions or registration apply to that entity? |
| Acquiring |
Is the PSP the acquirer or does it use another acquirer? |
| Underwriting |
Whose risk appetite determines merchant acceptance? |
| Gateway |
Is it included and can it work with another acquirer? |
| Payment methods |
Does it support the methods your customers use? |
| Currencies |
Which presentment and settlement currencies are supported? |
| Settlement |
Who settles funds and how quickly? |
| Pricing |
What is the complete cost, not just the headline transaction fee? |
| Risk |
Does the provider support your sector and transaction profile? |
| Integration |
Does it work with your website, EPOS, CRM or software? |
| Tokens |
Can stored credentials be migrated if you leave? |
| Support |
Who do you contact when a payment or settlement problem occurs? |
| Contract |
What are the term, notice and exit arrangements? |
15 questions to ask a PSP before signing
- Which legal entity will provide our payment service?
- What is that company's regulatory status?
- Are you our acquirer?
- If not, which acquirer or acquirers will be used?
- Who makes our final underwriting decision?
- Who settles our funds?
- What is the normal settlement period?
- Who can place funds on hold or impose a reserve?
- Which payment methods and currencies are supported?
- Who provides the gateway?
- Can that gateway work with another acquirer?
- Who stores our payment credentials and tokens?
- Can those credentials be migrated if we leave?
- Who manages chargebacks?
- What is the complete cost and contract structure?
Our view: PSP describes the provider, not necessarily the whole payment architecture
The biggest mistake merchants can make when comparing PSPs is assuming the label explains exactly how the payment service works.
It does not.
A PSP might be:
- your acquirer
- your gateway provider
- your processor
- your Payment Facilitator
- a provider combining several of those functions.
Another organisation using exactly the same PSP description may have a completely different structure.
The most useful questions remain:
Who contracts with us?
Who underwrites us?
Who processes the transaction?
Who acquires it?
Who settles our money?
Who controls the relationship if something goes wrong?
Those answers tell a merchant far more than the three letters “PSP”.
How Merchant Advice Service helps businesses compare PSPs
Merchant Advice Service helps businesses understand what they require from a payment provider before comparing individual PSPs.
This can include:
- acquiring requirements
- business sector and risk appetite
- payment gateways
- integrations
- Payment Facilitator models
- international acquiring
- multiple currencies
- alternative payment methods
- multiple Merchant IDs
- multiple acquirers
- payment orchestration
- recurring payments
- stored payment credentials
- complex settlement requirements.
The objective is not simply to find a company described as a PSP.
It is to identify a provider whose acquiring structure, technology, risk appetite, pricing and payment functionality match the business's actual requirements.
Businesses can also read our Compare UK Payment Providers guide.
About Merchant Advice Service
Merchant Advice Service is a UK business-to-business payments information, comparison and provider-matching service.
Founded in 2016, MAS helps businesses understand their payment requirements and identify payment providers or specialist partners that may be relevant to the way they operate.
We provide information and support across areas including:
- merchant accounts
- payment gateways
- integrated payments
- higher-risk merchant accounts
- international acquiring
- multiple currencies
- specialist payment integrations
- more complex provider requirements.
Merchant Advice Service is not an acquiring bank or payment processor and does not make final underwriting decisions.
The MAS information, matching and introduction service is free to businesses. MAS may receive commission or a referral fee from some commercial partners where an introduction results in a completed product or account.
For full information about how our service operates, provider matching, independence and commercial relationships, read How Merchant Advice Service Works.
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Sources and regulatory references
This guide was reviewed and updated in August 2026 using current UK Financial Conduct Authority guidance and the FCA Handbook.
FCA — Payment Service Provider Definition
The FCA Handbook provides the regulatory definition of Payment Service Provider under the Payment Services Regulations 2017.
FCA Handbook: Payment Service Provider
FCA — Payment Services Regulations 2017
The FCA explains the payment services covered by the Payment Services Regulations and the types of businesses affected.
FCA: Payment Services Regulations and Electronic Money Regulations
FCA — Acquirer Definition
The FCA Handbook defines an acquirer as a Payment Service Provider contracting with a payee to enable the acceptance of payment transactions that result in funds being transferred to that payee.
FCA Handbook: Acquirer
FCA — Acquiring Payment Transactions
FCA perimeter guidance explains acquiring and distinguishes it from purely technical activities such as processing, data storage, terminals and online gateways.
FCA Handbook: Payment Services and Acquiring
FCA — Using Payment Service Providers
The FCA provides information about non-bank payment providers, regulatory checks, safeguarding and identifying the legal entity operating behind a payment brand.
FCA: Using Payment Service Providers
FCA — Financial Services Register
The Financial Services Register can be used to check firms and the regulated permissions or registrations associated with them.
FCA Financial Services Register
Editorial and commercial disclosure
Merchant Advice Service is an independent payments information, comparison and provider-matching service.
The term Payment Service Provider has a formal meaning under UK payment-services regulation but is also used in broader commercial contexts within the payments industry. The exact regulatory, acquiring and technical role of an individual provider depends on the services it actually performs.
This article provides general information about commonly encountered payment structures and should not be interpreted as legal or regulatory advice about the status of an individual company.
Our editorial content may reference payment providers, regulators, card networks, banks and technology companies regardless of whether Merchant Advice Service has a commercial relationship with them.
Where organisations are named for regulatory or technical examples, inclusion does not constitute a recommendation and should not be taken to mean Merchant Advice Service can introduce businesses to that organisation.
MAS may receive commission or a referral fee from some commercial partners where a business chooses to proceed following an introduction. Commercial relationships do not determine which organisations may be referenced within our independent educational content.
Organisations have not paid for inclusion in this article unless explicitly stated.
Payment services, regulatory permissions, acquiring relationships, pricing, settlement arrangements and technical capabilities can change. Businesses should confirm the current position with the relevant provider and use the FCA Financial Services Register where appropriate.
