# EMI / PI authorisation-withdrawal forensic register (EEA + UK) Payment Institutions and E-Money Institutions under PSD2, EMD2 and UK PSRs Regulation 10 need to know which authorisations were revoked, cancelled, refused or lost through transition. This forensic register maps 63 named withdrawals across four regulator populations at the 2026-05-03 cut-off, classified into five withdrawal types. Corebanq recused. - Source: https://finray.tech/intelligence/emi-pi-authorisation-withdrawals/ - Cluster: Corebanq - Published: 2026-05-03 - Updated: 2026-05-03 - Conflict of interest: Finray Technologies Ltd ships Corebanq. Corebanq is recused from any qualitative ranking on this page. - Publisher: Finray Technologies Ltd, Cyprus Companies Registry HE 445903 - Editorial principle: primary sources only; conflicts of interest disclosed inline --- The licensing-success register reads the survival curve from one side. This register reads it from the other. Across the same regulator population that produced 571 currently authorised EMIs, PIs and AISPs, 63 named entities have had their authorisation withdrawn, cancelled, revoked or otherwise removed from the active register and are documented here individually, each with a primary-source URL and a withdrawal-type classification. This register is the counter-narrative to the licensing-success population. Where the success register answers the question "who got through?", this register answers the question "who got stopped — or stopped themselves — and how was the stop classified by the regulator?". Companion artefact: EMI / PI licensing-success forensic register, the verified-floor positive-control benchmark this register inverts. ## Methodology Every named entity sits in one of five withdrawal-type classes: - `regulator-revocation` — the authorisation was revoked or the registration was cancelled by the regulator under enforcement powers. The supporting source-document URL on each row points either to a Final Notice / Decision PDF or to a regulator press release naming the entity. Examples: every Bank of Lithuania revocation press release, every FCA E-Money register entry with status field `EMD Revoked`, the Finansinspektionen authorisation-withdrawal decisions. - `voluntary-cancellation` — the firm requested cancellation; no enforcement action visible in the public record. The FCA register convention is that a status field of `Cancelled - Authorised EMI` or `Cancelled - Small EMI` (without a `Revoked` qualifier) defaults to voluntary or administrative cancellation. Where the firm name appears in a verified Final Notice, the classification is upgraded to `regulator-revocation` regardless of the underlying status field. - `application-refused` — the applicant never reached authorised state and the regulator refused authorisation. The FCA publishes Final / Decision Notices for refused PSD2 / EMD2 applications; most other EEA NCAs do not. The two named entities in this class — Awesome3 Limited (FCA Final Notice, 19 March 2020) and Yan International (FSA-era Final Notice, 29 August 2012) — are the verified UK-published rows; the population is structurally biased to NCAs that publish refusal data and is not a denominator for inferring overall refusal rates across the perimeter. - `lapsed-without-renewal` — authorisation expired and the firm did not renew. EMD2 / PSD2 authorisations do not expire on a fixed date in EU law, so this class is rare and is preserved as a taxonomy anchor. - `regime-transition-non-completed` — the firm failed to re-authorise under a new regime. Will populate as the PSD3 / PSR transitional period closes (currently expected to end in 2027 with an 18-month transitional period from OJ publication in 2026). A meaningful tranche of FCA `Cancelled - Authorised EMI` entries from 2021–2022 are arguably post-Brexit re-licensing exits, but the FCA register does not flag the cause and this register declines to infer it. The five classes are exhaustive and mutually exclusive at the point of withdrawal. They do not encode reasons (AML failure, safeguarding failure, capital insufficiency); reasons are legal commentary that lives in the linked Final Notice itself, not in this register's structured index. ## Population landscape The 63 named entities draw from four regulator populations: the FCA (UK) at 57 entries, the Bank of Lithuania (LT) at 4, Finansinspektionen (SE) at 1, and De Nederlandsche Bank (NL) at 1. The UK skew is structural — the FCA publishes the cleanest machine-readable cancelled / revoked cohort in the EEA + UK perimeter, downloadable as a CSV with named status fields, and the FCA also publishes Final and Decision Notices for refused PSD2 / EMD2 applications which most other NCAs do not. Per-NCA registers in BaFin (DE), ACPR (FR), CSSF (LU), MFSA (MT), CBI (IE), Banco de España (ES), Banca d'Italia (IT) and the remaining EEA NCAs were variously Cloudflare-protected, JS-rendered, or non-machine-readable in this run; they are documented at the methodology page as a coverage gap rather than as evidence of zero withdrawals. This is **not** a complete withdrawal census across the EEA + UK. The EBA's central Payment Institutions Register (EUCLID PIR) is the authoritative pan-EEA anchor but its bulk-extraction endpoint was not safely retrievable from the benchmark session, and absence of any specific entity from this register should not be interpreted as evidence that the entity remains authorised. Every named row is a positive observation; the population shape is constrained by what each regulator publishes in machine-findable form. ## Jurisdictional patterns In the verified subset, withdrawal-type distribution skews to the FCA's bimodal pattern: 30 of 63 records are `regulator-revocation` (47.6%), 31 are `voluntary-cancellation` (49.2%), and 2 are `application-refused` (3.2%). Within the UK FCA cohort the pattern is sharper still — there is a verified Final Notice cluster spanning December 2025 through April 2026 against dormant Small Payment Institutions and one Authorised Payment Institution (FIRST MONEY SERVICES LTD 22 December 2025; iCorp Global Limited 22 January 2026; Stallion Money Limited 24 February 2026; Dania Money Transfer Ltd 5 March 2026; Taj Exchange Limited 16 April 2026) which the FCA has cancelled under Regulation 10 of the PSRs and the Money Laundering Regulations 2017 for failure to maintain HMRC MLR registration after dormancy in their initial 12-month window. This is the canonical late-2025 / 2026 cohort of regulator-driven cancellation against firms that were registered but never traded; the analytical signal is that the Final-Notice publication cadence for this failure mode runs to roughly one per month. The Bank of Lithuania pattern is structurally different: each verified case is a regulator-revocation grounded in a public press release, with the entity named in the press release itself. The four documented cases (Foxpay 2024, Kevin EU 2025, Lock Trust 2025, PAYRNET 2023) span AML/CFT, safeguarding, capital-adequacy and outsourcing failures respectively. The Bank of Lithuania does not publish a discoverable register of voluntary cancellations in English, so the LT cohort here is regulator-revocation by source-availability rather than by population shape. Finansinspektionen (SE) and DNB (NL) each contribute a single named regulator-revocation: Intergiro Intl AB (SE, authorisation withdrawal October 2025) and Suri-Change B.V. (NL, licence withdrawal October 2023, objection rejected May 2024). Both NCAs publish per-decision pages in English with reasoning narrative; neither is bulk-downloadable. The implication for any reader using this register as a positive observation set: jurisdictional comparison is biased by NCA publishing convention, not by underlying withdrawal rate. A jurisdiction that publishes only enforcement actions will look like its withdrawal cohort is 100% regulator-revocation; a jurisdiction that publishes both will show the bimodal pattern visible in the FCA data. The right way to use this register is at the named-row level, not as a basis for inter-jurisdictional rate comparison. ## Forward-look The PSD3 / PSR provisional political agreement reached on 27 November 2025 starts an 18-month transitional period from Official Journal publication in 2026. Any EMI or PI authorised under PSD2 / EMD2 that does not complete re-authorisation under PSD3 / PSR by the end of the transitional period in 2027 will populate the `regime-transition-non-completed` class. Forward-looking applicants should plan for PSD3-readiness in addition to current PSD2 compliance; the most common avoidable failure mode in the historical cohort is the safeguarding model (single-bank concentration, out-of-MS, weak reconciliation), which is materially tightened under PSR. ## Data-quality limitations Three limitations apply to any quantitative use of this register. First, NCA-level publication-style bias: the UK skew above is a measurement artefact, not an underlying statement about UK authorisation outcomes. Second, the absence of a denominator: there is no public EU-wide refusal register, so authorisation success rates cannot be computed from this artefact alone. Third, the inference layer between FCA `Cancelled` and `EMD Revoked` register status and the 5-class taxonomy: where the FCA Final Notice URL is verified, this register classifies as `regulator-revocation`; where only the register status field is available, the literal status determines the class. Reasonable readers may classify some of the unverified `Cancelled` rows differently; the source URL on each row supports independent re-classification. This is a structured-index page, not a legal commentary. For corrections to entity classifications or new Final Notice citations to upgrade entries from `voluntary-cancellation` to `regulator-revocation`, write to legal@finray.tech. --- ## Reference index ### Institution classes / Pre-MiCA archetypes (5) - **Regulator-driven revocation** — 30 of 63 records — Authorisation revoked or registration cancelled by the regulator under enforcement powers (FCA Final Notice, Bank of Lithuania revocation decision, DNB licence withdrawal, Finansinspektionen authorisation withdrawal, FCA EMD-revocation register status). - **Voluntary cancellation** — 31 of 63 records — Firm requested cancellation of authorisation, or carried "Cancelled - Authorised EMI" / "Cancelled - Small EMI" status in the FCA E-Money register without a Final Notice escalation. - **Application refused** — 2 of 63 records — Applicant never reached authorised state and the regulator refused authorisation. The FCA publishes Final / Decision Notices for refused PSD2 / EMD2 applications (Awesome3 Limited 2020-03-19; Yan International FSA-era 2012-08-29). Most other EEA NCAs do not publish refusal data at firm level. - **Lapsed without renewal** — 0 of 63 records — Authorisation expired and the firm did not renew or migrate to a new regime. Distinct from regime-transition-non-completed in that the regime itself did not change. - **Regime-transition not completed** — 0 of 63 records — Firm failed to re-authorise under a new regime (e.g. did not migrate to PSD3 from PSD2, did not complete UK temporary-permissions-regime exit). Will populate as PSD3 transition closes in 2027. ### Jurisdictions (4) - **United Kingdom (UK)** (UK, 57 entities) — United Kingdom — FCA E-Money Firms register cancelled and revoked cohort. The FCA publishes Final Notices for enforcement-driven cancellations. - **Lithuania (LT)** (LT, 4 entities) — Lithuania — Bank of Lithuania revocation decisions published as English-language press releases. Concentrated AML/CFT, safeguarding and capital-adequacy revocations. - **Netherlands (NL)** (NL, 1 entity) — Netherlands — De Nederlandsche Bank licence withdrawals. Published as enforcement-measures pages in English. - **Sweden (SE)** (SE, 1 entity) — Sweden — Finansinspektionen authorisation withdrawals. Published as English-language sanctions decisions. ### Licensed entities (63 total) Status / scope / source-register URL columns are inferences from observable register fields where not directly exposed by the source register; see the editorial methodology page for the inference rules. #### United Kingdom (UK) (57) - **Allstar Business Solutions Limited** — Voluntary cancellation; scope: voluntary-cancellation - **American Express Advanced Services Europe Limited** — Voluntary cancellation; scope: voluntary-cancellation - **ASOS Payments UK Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Attach (Global) Limited** — Regulator-driven revocation; scope: regulator-revocation - **Awesome3 Limited** — Application refused; scope: application-refused; https://www.fca.org.uk/publication/final-notices/awesome-3-limited-2020.pdf - **Biilz UK Ltd** — Regulator-driven revocation; scope: regulator-revocation - **Britannia Global Payments Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Calico Capital Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Capital Financial Services S. A.** — Regulator-driven revocation; scope: regulator-revocation - **Cendit Limited** — Regulator-driven revocation; scope: regulator-revocation - **CONTACTPAY SOLUTION LTD** — Voluntary cancellation; scope: voluntary-cancellation - **Conto Group Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Cornercard UK Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Currentec EOOD** — Regulator-driven revocation; scope: regulator-revocation - **Currentec Ltd** — Regulator-driven revocation; scope: regulator-revocation - **Damaras Limited** — Regulator-driven revocation; scope: regulator-revocation - **Dania Money Transfer Ltd** — Regulator-driven revocation; scope: regulator-revocation; https://www.fca.org.uk/publication/final-notices/dania-money-transfer-ltd-2026.pdf - **Droplet Online Ltd** — Regulator-driven revocation; scope: regulator-revocation - **EBANX Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Fincofex Limited** — Voluntary cancellation; scope: voluntary-cancellation - **FIRST MONEY SERVICES LTD** — Regulator-driven revocation; scope: regulator-revocation; https://www.fca.org.uk/publication/final-notices/first-money-services-ltd-2025.pdf - **Foreign Currency Exchange Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Fortress (GB) Limited** — Regulator-driven revocation; scope: regulator-revocation - **Frost Money Ltd** — Voluntary cancellation; scope: voluntary-cancellation - **GKPay Limited** — Regulator-driven revocation; scope: regulator-revocation - **Greyfoxx Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Grizzio Ltd** — Regulator-driven revocation; scope: regulator-revocation - **HRYZE FINANCIAL SERVICES LIMITED** — Voluntary cancellation; scope: voluntary-cancellation - **iCorp Global Limited** — Regulator-driven revocation; scope: regulator-revocation; https://www.fca.org.uk/publication/final-notices/icorp-global-limited-2026.pdf - **Interpayment Services Limited** — Regulator-driven revocation; scope: regulator-revocation - **IPAGOO LLP** — Voluntary cancellation; scope: voluntary-cancellation - **Little Starts Gift Vouchers Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Meta Financial UK Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Moneyfold Ltd** — Voluntary cancellation; scope: voluntary-cancellation - **MTL Financial Limited** — Voluntary cancellation; scope: voluntary-cancellation - **One Stop Money Manager Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Online Currency Corp Ltd** — Regulator-driven revocation; scope: regulator-revocation - **PARAM@ UK LTD** — Regulator-driven revocation; scope: regulator-revocation - **People Places Lives Limited** — Voluntary cancellation; scope: voluntary-cancellation - **POCKIT LIMITED** — Voluntary cancellation; scope: voluntary-cancellation - **PPPay Limited** — Regulator-driven revocation; scope: regulator-revocation - **Project Imagine Ltd** — Voluntary cancellation; scope: voluntary-cancellation - **SETL Payments Limited** — Regulator-driven revocation; scope: regulator-revocation - **Silverbird Global Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Smart Fintech Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Smartphone Money Limited** — Regulator-driven revocation; scope: regulator-revocation - **Stallion Money Limited** — Regulator-driven revocation; scope: regulator-revocation; https://www.fca.org.uk/publication/final-notices/stallion-money-limited-2026.pdf - **Taj Exchange Limited** — Regulator-driven revocation; scope: regulator-revocation; https://www.fca.org.uk/publication/decision-notices/taj-exchange-ltd-2026.pdf - **Teya Rewards Ltd.** — Voluntary cancellation; scope: voluntary-cancellation - **The ai Corporation Limited** — Voluntary cancellation; scope: voluntary-cancellation - **The Foremost Currency Group Limited** — Voluntary cancellation; scope: voluntary-cancellation - **Tola Mobile Limited** — Regulator-driven revocation; scope: regulator-revocation - **Transactive Systems Ltd** — Voluntary cancellation; scope: voluntary-cancellation - **Tyncofex Ltd** — Voluntary cancellation; scope: voluntary-cancellation - **UAB Best Finance** — Regulator-driven revocation; scope: regulator-revocation - **Webmoney Europe Ltd** — Voluntary cancellation; scope: voluntary-cancellation - **Yan International** — Application refused; scope: application-refused; https://www.fca.org.uk/publication/final-notices/yan.pdf #### Lithuania (LT) (4) - **UAB FOXPAY** — Regulator-driven revocation; scope: regulator-revocation - **UAB Kevin EU** — Regulator-driven revocation; scope: regulator-revocation - **UAB LOCK TRUST** — Regulator-driven revocation; scope: regulator-revocation - **UAB PAYRNET** — Regulator-driven revocation; scope: regulator-revocation #### Netherlands (NL) (1) - **Suri-Change B.V.** — Regulator-driven revocation; scope: regulator-revocation #### Sweden (SE) (1) - **Intergiro Intl AB** — Regulator-driven revocation; scope: regulator-revocation