UK banking license
UK banking license
UK banking license
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Adyen builds direct connections to the Bank of England and Faster Payments Services in record time

4 January, 2024
 ·  0 minutes

When you’re a business who relies on payouts to deliver funds to your users, every minute matters. The pace at which your money moves is paramount to keeping the momentum of your ambitions. 

At Adyen, we’re no stranger to speed. To facilitate faster payments for UK businesses who depend on sending payouts to their users, we’ve successfully connected to the Bank of England (BoE) and the real-time payment rails Faster Payments Services (FPS). And we did it in only eight weeks.

It doesn’t stop there, our UK banking license allows us to continue to offer enterprise banking services and our embedded financial product suite in the UK, allowing our platform customers to extend their embedded payments offering with additional financial services such as Capital.

Deliver faster payouts

75% of SMB platform users say they need same-day settlement or faster. With such high demand, UK businesses have a big opportunity to meet their users' needs. Our direct connection to the BoE and FPS allows businesses to pay out their users within a minute, 24/7. The result is a better customer experience for users, who get instant and reliable access to their money. This is only relevant for businesses who pay out funds to sellers, vendors, gig economy workers, or partners in the UK.

Our UK bank authorisation adds to our EU and US licenses. Our new direct connections in the UK complement our connections in other markets, such as Instant Payments in the EU and FedNow in the US, helping us ensure fast flow of funds for UK customers globally.

Offer a complete solution for large-scale money movement

Thanks to our UK banking license, our UK customers can pay their users faster with maximum flexibility and least effort by using a single global partner for both payments and payouts. This includes benefits such as: 

  • Payments + Payouts: Send instant payouts to your users using payments accepted online or in-person with Adyen.

  • Embedded payments + Payouts: Send instant payouts and let Adyen take care of Know Your Customer (KYC) with an embedded payments solution.

Platforms in the UK with embedded payments can also access our embedded financial product suite to deliver high-quality financial products to their SMB users at speed. The suite includes:

Our licenses ensure platforms and businesses meet their regulatory obligations in the UK and beyond.

Reach your ambitions faster with financial technology that keeps up

At Adyen, we built our single platform in-house and free from major dependencies on third parties. Our unique tech stack allows us to stay flexible, scale bigger, and make decisions quicker. This means we can move at the speed it takes to help our customers get where they want to go, fast.


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