Atoa Payments Secures FCA Authorisation: A Game-Changer for Open Banking in the UK
Atoa Payments Limited, a leading open banking payments provider, has achieved a major regulatory milestone—securing Financial Conduct Authority (FCA) authorisation as an Authorised Payment Institution (API).
This approval expands Atoa’s market reach, allowing it to serve larger UK businesses while further disrupting the traditional card payment ecosystem.
Why This FCA Approval Matters
✅ Legitimacy & Compliance – FCA authorisation cements Atoa as a trusted financial institution, allowing it to offer regulated payment services at scale.
✅ Enabling Large-Scale Adoption – Previously focused on SMEs, Atoa can now expand into enterprise-level payments, targeting industries like retail, hospitality, automotive, and professional services.
✅ Strengthening Open Banking Innovation – Atoa is pioneering a cardless payment ecosystem, helping businesses reduce processing costs by up to 50% compared to traditional card networks.
How Atoa is Disrupting the UK Payments Market
💳 Card-Free, Instant Payments – Atoa enables direct bank-to-bank transactions, bypassing card networks and their high fees.
📉 Lower Payment Costs for Businesses – Merchants have saved thousands per month by switching to Atoa. Ponko Cars, a UK auto dealer, cut fees by £6,000/month, with 96% of its transactions now processed via Atoa.
⚡ Faster Settlement Times – Unlike card payments, which can take days to settle, Atoa ensures instant access to funds.
📊 Automated Reconciliation & Data Insights – Atoa reduces manual processing and enhances payment tracking, making cash flow management easier for businesses.
Atoa’s Expanded Payment Services Under FCA Authorisation
With FCA approval, Atoa can now offer a broader suite of regulated payment services, including:
🔹 Payment Initiation Services (PIS) – Direct payments from customers to businesses, eliminating reliance on card networks.
🔹 Virtual Account Services – Bulk payouts for enterprises via ClearBank integration.
🔹 Payment Account Information Services (AIS) – Real-time transaction insights for businesses.
What’s Next for Atoa?
🚀 Scaling Enterprise Partnerships – With FCA backing, Atoa will target larger merchants and corporate clients across diverse industries.
💡 Investing in Product Development – Atoa will continue enhancing its platform, offering even more advanced payment capabilities.
📈 Market Expansion & Adoption – Backed by Valar Ventures, Passion Capital, and Leo Capital, Atoa is well-positioned to drive adoption and innovation in the UK’s open banking sector.
Final Take: Will Atoa Challenge Traditional Card Networks?
With FCA approval, Atoa is now a major force in open banking payments, offering cheaper, faster, and more efficient alternatives to card-based transactions. As businesses seek cost-saving solutions, will Atoa become a true competitor to Visa, Mastercard, and traditional banks?
