Moneycorp is an international payments

fintech Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are r ...

that provides payment products and services. The company was founded in London in 1979. Its clients include corporations, financial institutions, and individuals and it has a footprint in the United Kingdom, North America,

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a subcontinent of Eurasia and it is located entirel ...

Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area ...

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...

, and the

United Arab Emirates The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia ( The Middle East). It is located at t ...

. Moneycorp offers payments in over 120

currencies A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general def ...

through a suite of services including, but not limited to,

foreign exchange spot A foreign exchange spot transaction, also known as FX spot, is an agreement between two parties to buy one currency against selling another currency at an agreed price for settlement on the spot date. The exchange rate at which the transaction is ...

, forward contracts, and option contracts. Moneycorp is enabled by its payments technology, which encompasses liquidity providers,

API An application programming interface (API) is a way for two or more computer programs to communicate with each other. It is a type of software interface, offering a service to other pieces of software. A document or standard that describes how ...

-integrations for mass payments, and a self-service platform with an assigned account manager. Moneycorp complies to all applicable laws and regulatory standards through its financial crime monitoring systems, bank-grade compliance, and proper segregation of client funds. Additionally, Moneycorp maintains all required banking and

money transmitter In the legal code of the United States, a money transmitter or money transfer service is a business entity that provides money transfer services or payment instruments. Money transmitters in the US are part of a larger group of entities called mo ...

licenses across all operating jurisdictions.

History

The company was established in 1979 as a U.K. based traditional

foreign exchange The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all as ...

retailer, delivering services for individuals at locations at central London, competing with the local banks. Years later, the company expanded its retail division into several airports. In early 2000, Moneycorp expanded throughout the U.K. as it began to provide international payment capabilities for private clients, followed by a focus on corporate clients. During this time, Moneycorp pivoted towards a focus on

technology Technology is the application of knowledge to reach practical goals in a specifiable and Reproducibility, reproducible way. The word ''technology'' may also mean the product of such an endeavor. The use of technology is widely prevalent in me ...

and payments through licensing and technology upgrades. In 2014, Moneycorp was bought by Bridgepoint for £212 million. and expanded internationally, obtaining Money Service Business licenses across Spain,

Romania Romania ( ; ro, România ) is a country located at the crossroads of Central, Eastern, and Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, Serbia to the southwest, Moldova to the east, and ...

, and the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

. Moneycorp also obtained banking licenses in Brazil and

Gibraltar ) , anthem = " God Save the King" , song = " Gibraltar Anthem" , image_map = Gibraltar location in Europe.svg , map_alt = Location of Gibraltar in Europe , map_caption = United Kingdom shown in pale green , mapsize = , image_map2 = Gib ...

, creating Moneycorp Banco de Cambio and Moneycorp Bank, respectively. A few years later, the company also obtained Money Service Business licenses in Hong Kong in 2018 and in

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...

in 2020. In November 2019, Moneycorp became the first of two non-U.S. bank members of the United States Federal Reserve's Foreign Bank International Cash Services (FBICS) program, providing Moneycorp direct access to Federal Reserve U.S. dollar currency services. This relationship with the U.S. Federal Reserve acts as a payments gateway for international financial institutions via Moneycorp’s Financial Institutions Group (FIG). Moneycorp FIG focuses on enabling safe distribution of

banknotes A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued ...

to institutions globally, promoting repatriation and recirculation of banknotes. Through Moneycorp FIG, the company has built a customer base of

financial institutions Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial insti ...

including

commercial Commercial may refer to: * a dose of advertising conveyed through media (such as - for example - radio or television) ** Radio advertisement ** Television advertisement * (adjective for:) commerce, a system of voluntary exchange of products and s ...

and central banks. Throughout its expansion, Moneycorp continues to enhance its technical innovations as well as develop its all-new payment technology, while keeping a focus on security and compliance through its sophisticated financial crime monitoring systems, bank-grade compliance, and proper segregation of client funds. Moneycorp stated it has more than 40,000 customers and send payments to over 190 countries. The company has more than 150 partners internationally.

Services

Throughout the various trading divisions, Moneycorp offers its clients: * International Payments * FX Risk Management Strategies * Mass Payments & APIs * Multi-currency Wallets * Wholesale Banknotes * International Bank Accounts * Notice Accounts * Deposit Accounts * Prepaid Explorer Cards by MasterCard

Operations

The company headquarters are in

London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...

, U.K., with additional offices around the world including

Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic Ocean, in Northwestern Europe, north-western Europe. It is separated from Great Britain to its east by the North Channel (Grea ...

Portugal Portugal, officially the Portuguese Republic ( pt, República Portuguesa, links=yes ), is a country whose mainland is located on the Iberian Peninsula of Southwestern Europe, and whose territory also includes the Atlantic archipelagos of ...

Spain , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = ''Plus ultra'' (Latin)(English: "Further Beyond") , national_anthem = (English: "Royal March") , i ...

, United States, Canada,

Dubai Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...

, Romania,

, and

. The company is split into a number of

trading Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market. An early form of trade, barter, saw the direct excha ...

divisions, including: ;United Kingdom TTT Moneycorp Limited (company number 738837) is registered in

England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe b ...

. Its registered office is at Floor 5, Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ. Moneycorp is a

trading name A trade name, trading name, or business name, is a pseudonym used by companies that do not operate under their registered company name. The term for this type of alternative name is a "fictitious" business name. Registering the fictitious name w ...

of TTT Moneycorp Limited which is authorised by the Financial Conduct Authority under the Payment Service Regulations 2017 (reference number 308919) for the provision of payment services. Moneycorp Financial Risk Management Limited (company number 5774742) is registered in England. Its registered office is at Floor 5, Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ. Moneycorp FRM is the trading name of Moneycorp Financial Risk Management Limited and is authorised and regulated by the Financial Conduct Authority for the provision of designated investment business (firm reference number 452443). Mastercard is a registered

trademark A trademark (also written trade mark or trade-mark) is a type of intellectual property consisting of a recognizable sign, design, or expression that identifies products or services from a particular source and distinguishes them from othe ...

, and the circles design is a trademark of Mastercard International Incorporated. Explorer™ Card is issued by Prepay Technologies Ltd (PPS), with its registered office on Floor 6, 3 Sheldon Square, London W2 6HY U.K. PPS is authorised and regulated by the U.K. Financial Conduct Authority for the issuance of

e-money Digital currency (digital money, electronic money or electronic currency) is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet. Types of digital cu ...

with firm reference number 900010 ;Ireland, Spain, & Romania Moneycorp Technologies Limited (company number 612120) is registered in Ireland. It is registered office is 24 Windsor Place,

Dublin Dublin (; , or ) is the capital and largest city of Ireland. On a bay at the mouth of the River Liffey, it is in the province of Leinster, bordered on the south by the Dublin Mountains, a part of the Wicklow Mountains range. At the 2016 c ...

2. Moneycorp is a trading name of Moneycorp Technologies Limited which is authorised by the Central Bank of Ireland under the European Communities (Electronic Money) Regulations 2011 for the provision of Electronic Money and Payment services and with the Central Bank of Ireland for the provision of designated investment business under

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been de ...

(Markets in Financial Instruments) Regulations 2017 (firm reference number C184118). ;France Moneycorp Technologies Limited (company number 918 864 067 00023) is registered and started operations in France on 1 September 2022. The primary office is located at 255 Boulevard Pereire 75017 Paris and the

registered office A registered office is the official address of an incorporated company, association or any other legal entity. Generally it will form part of the public record and is required in most countries where the registered organization or legal entity ...

is 24 Windsor Place –

2. Moneycorp Technologies Limited - Succursale Française is a

of Moneycorp Technologies Limited which is authorised by the Les Greffes des Tribunaux de Commerce for providing financial services under the NAF Code 6619B. ;Gibraltar (Moneycorp Bank) Moneycorp Bank is a trading name of Moneycorp Bank Limited. Moneycorp Bank Limited is registered in Gibraltar under company number 113151 with its

at 7/b King’s Yard Lane, Gibraltar, GX11 1AA. Moneycorp Bank is authorized by the Gibraltar Financial Services Commission (GFSC) to carry out electronic money activities under Class 15 of the Financial Services (Banking) Act and is required to comply with the Financial Services (Electronic Money) Regulations 2011. Moneycorp Bank safeguards all relevant funds on deposit in segregated client accounts with an authorized credit institution. Electronic Money is not protected by the Gibraltar

Deposit Guarantee Scheme Deposit insurance or deposit protection is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance systems are one component of a ...

or any other compensation scheme. The explorer multi‐currency card is issued by Moneycorp Bank Limited, pursuant to license by Mastercard International Inc. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Moneycorp Bank Limited is authorised by the GFSC to carry out activities for accepting deposits and other repayable funds from the public under Class 1 of the Financial Services (Banking) Act and is protected by the Gibraltar Deposit Guarantee Scheme. Moneycorp Bank is authorised under the GFSC and operates under a Freedom of Services Passport. (cross-border services) for activities under the Banking Consolidation Directive. ;Other European Economic Area (EEA) Countries Moneycorp Technologies Limited (company number 612120) is registered in Ireland. It is registered office is 24 Windsor Place, Dublin 2. Moneycorp is a trading name of Moneycorp Technologies Limited which is authorized by the Central Bank of Ireland under the European Communities (Electronic Money) Regulations 2011 for the provision of Electronic Money and Payment services and with the Central Bank of Ireland for the provision of designated investment business under European Union (Markets in Financial Instruments) Regulations 2017 (firm reference number C184118). ;USA Moneycorp U.S. Inc. (“moneycorp”) is a

Rhode Island Rhode Island (, like ''road'') is a state in the New England region of the Northeastern United States. It is the smallest U.S. state by area and the seventh-least populous, with slightly fewer than 1.1 million residents as of 2020, but it ...

corporation (#000115949) and is federally registered as a Money Services Business (MSB) with the

Financial Crimes Enforcement Network The Financial Crimes Enforcement Network (FinCEN) is a bureau of the United States Department of the Treasury that collects and analyzes information about financial transactions in order to combat domestic and international money laundering, terr ...

(“FinCEN”), a bureau of the

United States Department of Treasury The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and ...

(# DCN 31000118771945). Moneycorp Inc. is a company registered in the

State of Delaware Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacent Del ...

in the United States of America under file number 4052694. Its registered agents address is 28 Old Rudnick Lane, Dover, Kent, DE 19901, US ;Brazil Moneycorp Banco de Cambio SA is a Financial Institution registered with the

Central Bank of Brazil The Central Bank of Brazil ( pt, Banco Central do Brasil) is Brazil's central bank. It was established on Thursday, 31 December 1964, a New Year's Eve. The bank is not linked to any ministry, currently being autonomous. Like other central banks ...

under number 24214, registered with the Commercial Registry of the State of São Paulo (JUCESP) with NIRE number 35300338022 and registered in the National Register of Legal Persons of the Ministry of Fazenda (CNPJ) under number 08.609.934 / 0001-37, having headquarters at Rua Joaquim Floriano, 1052, 7º Andar,

Itaim Bibi Itaim Bibi is a district in the subprefecture of Pinheiros in the city of São Paulo, Brazil. It includes in its area an eponymous neighborhood. Google Google LLC () is an American Multinational corporation, multinational technology com ...

, in the city of

São Paulo São Paulo (, ; Portuguese for ' Saint Paul') is the most populous city in Brazil, and is the capital of the state of São Paulo, the most populous and wealthiest Brazilian state, located in the country's Southeast Region. Listed by the Ga ...

, state of São Paulo, Brazil, CEP 04534-004. ;United Arab Emirates TTT Moneycorp Limited holds a commercial license (CL2738) with the

Dubai International Financial Centre The Dubai International Financial Centre (DIFC) is a special economic zone in Dubai covering , established in 2004 as a financial hub for companies operating throughout the Middle East, Africa and South Asia (MEASA) markets. DIFC is regulated b ...

and is regulated by the

Dubai Financial Services Authority The Dubai Financial Services Authority (DFSA) is the financial regulatory agency of the special economic zone, the Dubai International Financial Centre (DIFC), In Dubai, United Arab Emirates. It is distinct from the UAE's federal Securities and Co ...

(DFSA) as a Representative office. The DFSA registered entity number is F004243 ;Hong Kong Moneycorp (Hong Kong) Limited, Registered number 2602916 Unit 1510, 15th Floor,

The Center The Center () is the fifth tallest skyscraper in Hong Kong, after International Commerce Centre, Two International Finance Centre (88 storeys), Central Plaza and Bank of China Tower. With a height of , it comprises 73 storeys. The center is ...

, 99 Queen’s Road Central, Hong Kong holds a license for Operating Money Service (License No. 18-04-02400) under the Customs and Excise Department, Money Service Supervision Bureau, Hong Kong. The senior management team includes: * Mark Horgan, CEO * Velizar Tarashev, CFO * Alan Bowkett, Chairman * Emma Alley, COO * Peter Green, General Counsel and CRCO

References

External links

moneycorp.com
{{DEFAULTSORT:Moneycorp Foreign exchange companies Companies based in the City of Westminster Financial services companies of the United Kingdom 1962 establishments in England Financial services companies established in 1962 Multinational companies headquartered in England Payment systems