“Can a UK FCA-regulated EMI become the go-to white-label embedded payments infrastructure layer — spanning BIN sponsorship, wallet-as-a-service, and KYC/AML — for fintechs that lack their own regulatory licences?”
Founded in 2007 as an FCA-regulated electronic money institution, PSI-Pay initially focused on e-money issuance and payment processing. Over 20 years, it evolved into a full-stack embedded payments infrastructure provider, offering BIN Sponsorship, Wallet as a Service, Payment Gateway, and KYC/AML services to third-party fintechs and businesses. It is also the regulated entity behind the Payz consumer e-wallet brand, demonstrating a dual B2B infrastructure and B2C product model. Its Principal Membership of Mastercard and Discover differentiates it as a card programme sponsor rather than a pure reseller.
PSI Pay discloses PSI-Pay Ltd. (in-house) as its banking provider, according to the Embedded Finance Index 2026.
PSI Pay does not disclose a bank charter of its own; its banking services are provided through PSI-Pay Ltd. (in-house).
PSI Pay processes payments through PSI-Pay Payment Gateway (self-operated).
PSI Pay's cards are issued through PSI-Pay Ltd. (in-house).
PSI Pay uses PSI-Pay Payment Gateway (self-operated) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 4 layers in PSI Pay's stack: Payments / PSP (PSI-Pay Payment Gateway (self-operated)); Banking / BaaS (PSI-Pay Ltd. (in-house)); Card issuing (PSI-Pay Ltd. (in-house)); FX & payouts (PSI-Pay Payment Gateway (self-operated)).
PSI Pay is founded in 2007 and headquartered in Horsham, West Sussex, United Kingdom.
Get a read on where your own stack stands against PSI Pay and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.