On the February 11, 2020 ePayments Systems Limited (‘ePayments’) agreed with the Financial Conduct Authority (‘FCA’) to suspend all activity on its customer accounts. This decision was taken following a review, by the FCA, of ePayments anti-money laundering systems and controls, which identified weakness that required remediation.

We know this will be a very frustrating time for our customers. We apologise for any inconvenience caused and are working tirelessly to ensure improvements are made and accounts can be reactivated as soon as possible. During this improvement process, we want to assure customers that their funds are being safeguarded as normal. If you have any questions, please contact us directly.

About ePayments

You aren’t restricted by borders. So why should your payments be?

Why ePayments?

Trying to receive payments from other countries can be problematic for businesses and individuals alike. This is the reason ePayments was created. ePayments is an international payment provider that takes the hassle out of sending and receiving money across international borders. We make it simple to pay your employees and suppliers and accept payments directly from your marketplaces and clients – whichever country they are based in.

Our state-of-the-art payment system has been developed with the modern business in mind. By simplifying the payments process we make it easy and secure for local businesses and freelancers to operate in international markets.

Authorised by the FCA

ePayments is a licensed by the UK FCA to issue e-money for it's clients and their customers.

Mastercard® Principal Member

We issue Mastercard® cards directly, without intermediaries. You can use them in any country of the world.

SWIFT User and SEPA Member

As part of the SEPA and SWIFT society among the world's largest banks. We can send wires and issue IBANs quickly for our clients.

PCI DSS Certified

ePayments holds PCI DSS Level 1 cetificate, making sure our clients card details are securly handled with the highest standards.

Our team

Above ePayments is our team of the best specialists in the financial industry.

Business development

2018 was a busy year for ePayments as we focused on giving our customers even more services to help bring payment relief to their businesses. First, we developed a new API architecture, enabling our business clients to integrate into the system in one go, and immediately receive access to all mass payment channels.

Next up, we launched our very own suite of features for merchants giving them the ability to safely and effectively accept payments from a variety of different sources, all on their own website.

We also kicked off our new affiliate program for businesses, giving our customers to earn extra income from anyone they invite to our platform. The more transactions their invitees make, the higher the reward.

All our clients have started to make use of their very own personal virtual IBAN, enabling them to send and receive transfers in EUR in the SEPA zone. With the rest of the world in focus, we were delighted to add a host of local currencies to our platform, including: BDT, BRL, CAD, GBP, HKD, IDR, INR, JPY, PHP, SEK, THB, VND.

We renewed the ePayments card programme in the EEA giving all EEA residents and passport holders the opportunity to sing-up for our mastercard.

Later in the year we hit a big milestone. We were very proud to become the first platform in the world to launch registration and user verification via Telegram Passport. A big step to a more automated and inclusive service.

As always, keeping our customers safe was still our top priority. So, we replaced the static payment password with the option of confirming transactions using an SMS or push-code, making everyone’s accounts more secure.

Finally, the epayments.com website was completely updated. We have streamlined the content and made the page structures more intuitive and user friendly. Special attention was paid to our blog: the new platform works faster and the design is now simple and effective, meaning our subscribers can get their daily dose of fintech news in a more beautiful environment.

Taking it to the next level

We ceased working with PSI PAY and having already partnered with Mastercard we were able to issue cards and directly interact with the payment system.

We made major upgrades to our iOS and Android apps, which included the addition of new features and an even slicker design. This led to the app receiving a rating average of over 4.6 on the AppStore and Play Market.

We also translated our website, the clients’ personal area, and the app into Spanish and Portuguese to meet the demands of an expanding global market – especially in Latin America.

Security guarantees

In recognition of how seriously we take security we received PCI DSS Level 1 certification. It is an obligatory certification for all large financial institutions that requires meeting over 200 information security and data standards.

We also finished our partnership with WaveCrest and started working with new card issuer PSI PAY and all our clients received replacement cards within two months.

We also added a new currency – the Russian rouble.

Rapid growth

We launched a new version of ePayments which included added security – such as payment password and two-factor authentication – and an improved appearance.

Most of the functions that our clients have become familiar with were also launched. They included innovative features such as wire transfers – which enable our clients to send money to a bank account or settle payments with a partner abroad. In addition, we introduced a profit-sharing scheme whereby every client could earn from ePayments.

We also made ongoing enhancements and user improvements. We added convenient service additions such as being able to order a second card in another currency. We also added time-saving payment templates, instant money transfers and payments by phone or email. Finally, we increased our investment in our team and expanded across all departments.

Reliability confirmation

We received our Financial Conduct Authority (FCA) licence in July, giving us the rubber stamp of approval needed to show that we are a reliable financial organisation. As our regulator is based in London – one of the world’s most prestigious financial centres – it opened up many new opportunities. It enabled us to replace our card issuer for example, and we began working towards becoming a Mastercard principal partner. It also gave us the opportunity to partner directly with Yandex, Qiwi and WebMoney.

Sustained development

We launched new products such as integration with WebMoney and euro cards for our clients, in addition to co-branded card projects.

To reflect our high standards we carried out the necessary work to receive authorisation from the London-based regulatory body, the Financial Conduct Authority (FCA) – being UK-based it is one of the most stringent and respected regulatory bodies worldwide.

First steps

The first version of ePayments.com went live. It focused on personal payments, offering wire transfer receipts and enabling clients to withdraw money onto their own cards – big innovations at the time.

We also made the decision to become a fully-fledge financial institution. This enabled us to build our own independent payment infrastructure and become a Mastercard Principal Member. We also linked our services with alternative payment systems and opened our own bank accounts. In addition, we made preparations to receive a regulatory licence in recognition of the high system security we had put in place.

Birth of an idea

The Electronic Payments Association was founded by entrepreneurs from the affiliate-marketing and e-commerce market. Their extensive experience led them to recognise that there were not enough services offering instant cross-border payments. The year was spent working on a solution, putting together agreements with contractors and preparing for launch.