Merchant Optimisation Services Limited: Restriction of Provision of Services
In accordance with the decision of the Financial Conduct Authority (FCA) as the competent supervisory authority in the United Kingdom, Merchant Optimisation Services Limited has not been allowed to provide any payment services requiring a licence since 4 December 2019. The institution is required to inform its customers that it is no longer allowed to conduct activities requiring a licence, and shall not be allowed to make any pay-outs at the current time. Without prior approval in writing from the authority the institution shall not be allow to make use of financial means and/or customer deposits, which it holds in relation to payment services, or to reduce the amount held.
Details about the restrictions placed upon Merchant Optimisation Services Limited can be found under the following link:
The FCA advises that it has not revoked Merchant Optimisation Services Limited’s licence, but that the institution it not allowed to provide any payment services until further notice.