What is an e-money agent or distributor? Launching under someone else's licence
By SendPay Business · · 2 min read
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Getting your own e-money licence takes time and money. Many fintech brands instead work through an electronic money institution (EMI) that already holds one, acting as its agent or distributor under the UK's Electronic Money Regulations 2011.
How it usually works
- A licensed EMI agrees to take on the business.
- The EMI checks the business and its people are fit and proper.
- Agents that provide payment services are registered with the FCA and appear on the Financial Services Register.
- The business serves customers under its own brand, while the EMI stays responsible for compliance.
Agent vs distributor
A distributor helps sell or hand out e-money, such as prepaid cards, but doesn't issue it. An agent can provide payment services on the EMI's behalf. In both cases, the e-money itself is issued by the licensed EMI.
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What stays with the licensed firm
The EMI remains responsible for safeguarding customer funds, anti-money laundering checks and meeting FCA rules, and it must oversee what its agents and distributors do.
Where SendPay fits
SendPay lets you launch your own branded platform with GBP, EUR and USD accounts, transfers and branded Visa cards, powered by licensed partners.
How it works
Your own money app- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
Why sign up
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- 🪪A free business accountOpen it in about a minute with your business name, email, password and mobile. No card and no documents to start.
- 💳Get paid from day oneTake card payments, and share your own payment link and invoices so customers pay in a click.
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SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
EMI vs bank: what's the difference?
EMIs hold e-money and must safeguard it; they don't lend deposits.
EMI vs bank →What is a small payment institution?
A lighter UK licence for smaller payment firms.
Small payment institutions →Read next
Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.