United Kingdom · Payments & e-money
Pay Set Limited
Pay Set Limited, trading as Payset, is a private limited company incorporated in England and Wales in 2018. The FCA authorises it as an electronic money institution under firm reference number 900920. Capitalium Limited holds 75% or more of its shares, and its 2024 accounts name Cloud Innovations PTE. Ltd of Singapore as ultimate parent. It offers multi-currency e-money accounts, international and local payments and currency exchange, mainly to businesses, with payment services for US customers provided by Airwallex US, LLC.
Licences and registrations
Held by Pay Set Limited (LEI 9845006C713F9G97CF08). 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
|---|---|---|---|---|---|---|---|---|
| FCA Financial Services Register - E-Money InstitutionsFCALinked by LEI. Matched by Elucidate on the UK company number the register gives. | Authorised E-Money InstitutionE-Money / Stored Value Institution | 900920 | United Kingdom | Active | 2020-06-30 | — |
|
Search the register ↗ |
- Licences belong to the legal entity, not to a BIC.
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
- The register entries and their trading names were not matched against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
Swift network
Swift’s ISO 9362 BIC directory
- BIC
- PYSEGB22XXX head office
- Connection to Swift
- Reverse billingThe institution is connected to Swift. Messages sent to it are billed to the institution, not to the sender. The “2” in the eighth character of PYSEGB22 marks reverse billing.
- Swift GPI
- Not on the member list
- Payment schemes and systems
- No entry in the EPC registers, the ECB T2 and TIPS lists or the SIX Bank Master cites this BIC
- Branch codes
- None: head-office BIC only
- BIC first registered
- 2020-06-06
- Last updated
- 2021-03-18
Overview
Researched 29 Sep 2026 · Sources
Customers
Not published
Ownership
Group subsidiary
Capitalium Limited
Firm type
E-money and accounts
Trades as Payset
- Standing
- Companies House published a first Gazette notice for compulsory strike-off on 24 February 2026. The action was discontinued on 28 February 2026, and the company remains active on the register.
- Ownership
- Capitalium Limited (Companies House 11479723) holds 75% or more of the shares and voting rights, and the 2024 accounts name Cloud Innovations PTE. Ltd of Singapore as the ultimate parent.
- Direct parent
- Capitalium Limited, United Kingdom
- Ultimate owner
- Cloud Innovations PTE. Ltd, Singapore
- Head office
- 9th Floor, 9 Appold St, EC2A 2AP London, United Kingdom (registered office: 23 Berkeley Square, London, W1J 6HE, United Kingdom)
- Company register
- Companies House 11529161
- Incorporated
- 21 Aug 2018
- Founders
- Rudi Reager · Ophir Gertner · Shachar Ronen
Online
- Websites & references
- payset.io ↗
service.payset.io ↗ help centre
signup.payset.io ↗ account sign-up portal - Official social accounts
- LinkedIn ↗
Sources · 10 pages consulted
- find-and-update.company-information.service.gov.uk/company/11529161/persons-with-significant-control
- find-and-update.company-information.service.gov.uk/company/11529161/officers
- find-and-update.company-information.service.gov.uk/company/11529161/filing-history
- find-and-update.company-information.service.gov.uk/company/11529161/filing-history/MzUyMDY3Mzg2OGFkaXF6a2N4/document?format=pdf&download=0
- payset.io/terms-conditions/
- payset.io/safeguard-statement/
- payset.io/who-we-are/
- payset.io/news-and-announcements/
- payset.io/blog/payset-announces-safelynx-mica-authorisation/
- service.payset.io/hc/en-us/articles/16189800004380-How-is-Payset-regulated
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Several models
- Licensed firm it operates under
- Airwallex US, LLC, United States Provides payment services for Payset's US customers as a licensed money transmitter (NMLS #1928093)
The FCA authorises the firm as an electronic money institution under the Electronic Money Regulations 2011. For US customers, the payment services are provided by Airwallex US, LLC, a licensed money transmitter, rather than by the firm itself.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Financial Conduct Authority United Kingdom | Authorised Electronic Money Institution | 900920 | In its own name | Active | payset.io ↗ |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
Partners and safeguarding
Researched 29 Sep 2026 · Sources
- Safeguarding
- Segregated safeguarding accountsThe firm states that it segregates 100% of client funds from its own funds, holding them in ring-fenced accounts at authorised UK or EEA credit institutions, in secure liquid assets with an authorised custodian, or both.
- Sponsor bank
- Evolve Bank & Trust United States
- Payment schemes and card networks
- Swift Through a partner find-and-update.company-information.service.gov.uk ↗
SEPA Through a partner find-and-update.company-information.service.gov.uk ↗
Faster Payments Through a partner find-and-update.company-information.service.gov.uk ↗
CHAPS Through a partner find-and-update.company-information.service.gov.uk ↗
Fedwire/ACH Through a partner find-and-update.company-information.service.gov.uk ↗
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
Products and markets
Researched 29 Sep 2026 · Sources
It runs multi-currency IBAN-enabled e-money accounts with currency exchange, free transfers between Payset accounts and payroll payouts. According to its 2024 accounts, 90–95% of clients are corporates, mainly UK-incorporated SMEs.
It serves clients from the UK under its FCA authorisation, and Airwallex US, LLC provides payment services to its US customers.
- Revenue
- EUR 5.73m
- Sells to
- Small businesses · Enterprises · Consumers
- Serves customers in 2 countries
- United Kingdom · United States
Leadership
Researched 29 Sep 2026 · Sources
- Chief executive
-
Perry Asforis
Managing Director (listed as CEO on the leadership page); director
- Compliance / MLRO
-
Adam Mackulin
Director of Compliance & MLRO; director
- Chief financial officer
-
Senthooran Ramachandran
VP of Finance
- Founder
-
Rudi Reager
Co-Founder
- Founder
-
Ophir Gertner
Co-Founder
- Founder
-
Shachar Ronen
Co-Founder & General Counsel
Recent events
Researched 29 Sep 2026 · Sources
-
Licence
The Danish Financial Supervisory Authority authorised sister company SafeLynx Technologies ApS as a MiCA crypto-asset service provider. The authorisation does not cover Pay Set Limited.
payset.io ↗ -
Other
Companies House published a first Gazette notice for compulsory strike-off, then discontinued the action on 28 February 2026.
find-and-update.company-information.service.gov.uk ↗
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
Identifiers
Head-office record
- BIC
- PYSEGB22XXX
- How the BIC breaks down
- PYSEBank
- GBCountry · United Kingdom
- 22Location · reverse billing
- XXXBranch · head office
- Branch description
- Not recorded in the directory
- LEI
- 9845006C713F9G97CF08
- LEI record
- View on GLEIF ↗
- Licence no. · FCA-EMI
- 900920
- How the LEI was matched
- BIC: Mapped to this BIC in the Swift and GLEIF BIC-to-LEI relationship file.Register entry: Matched by Elucidate on the UK company number the register gives.
- Register-entry ID
- 8c6f65cab2af
Profile
- Type
- Payments & e-moneyPayment institutions, e-money and stored-value issuers, and account-information providers. Licensed under payment-services law (e.g. PSD2 in the EU and UK, the Payment Services Act in Singapore). Taken from the licences on the tracked registers.
- Regulation
- Prudential licenceAuthorised with capital, safeguarding and conduct requirements, e.g. an authorised payment or e-money institution in the EU or UK, a major payment institution in Singapore, or a MiCA crypto-asset service provider.
- Register licences
- 1 entry on 1 register
- Activities
- Payment services
- E-money / stored value
- Licensed in
- United Kingdom
- Website (register)
- www.payset.io ↗
- Country · region
- United Kingdom · Europe & Central Asia
- Trading venues (MIC)
- No MIC registered under this LEI list of 2026-09-17
- OFAC sanctions
- No listing cites this BIC
- EU sanctions
- No listing matched this BIC or its LEI
- Country sanctions
- No country programme
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
Ownership and group
GLEIF relationship records
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
Addresses
- Registered address
- KIMBERLEY HOUSE 31 BURNT OAK BROADWAY EDGWARE HA8 5LD UNITED KINGDOM
- Operational address
- 4 IMPERIAL HOUSE 4 MAXWELL ROAD BOREHAMWOOD BOREHAMWOOD WD6 1JN UNITED KINGDOM
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
A CBPR+ message identifies this institution by its BIC, and may add its LEI or a clearing code. CBPR+ does not allow a name and postal address next to a BIC.
- Identified by
- BIC, with its LEI
- Roles in CBPR+
- Any agent, including the instructing and instructed agents
CBPR+
For cross-border payments on Swift: the BIC, with the LEI and clearing code where known
<FinInstnId>
<BICFI>PYSEGB22XXX</BICFI>
<LEI>9845006C713F9G97CF08</LEI>
</FinInstnId>Full record
Every ISO 20022 element the directory holds. Base ISO 20022 allows them together. CBPR+ does not allow a name and address next to a BIC
<FinInstnId>
<BICFI>PYSEGB22XXX</BICFI>
<LEI>9845006C713F9G97CF08</LEI>
<Nm>PAY SET LIMITED</Nm>
<PstlAdr>
<Ctry>GB</Ctry>
<AdrLine>KIMBERLEY HOUSE 31 BURNT OAK BROADWAY EDGWARE HA8 5LD</AdrLine>
</PstlAdr>
</FinInstnId>Swift’s two address fields do not agree on a town, so the full record gives the address as address lines only.
The BIC, name and address are as published in Swift’s BIC directory. The LEI comes from the Swift and GLEIF BIC-to-LEI file. Check them against your own records before use.
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Sources & method
Every value comes from a public source, such as Swift’s ISO 9362 BIC directory, GLEIF or the OFAC and EU sanctions lists. Most sources are matched on a BIC or an LEI, not on a name.
Swift GPI membership is matched on names and is indicative. A missing sanctions match does not mean that no listing applies. Always screen against the official lists.
Register entries are not screened against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
Read the methodology →Credits for this page
- FCA Financial Services Register - E-Money Institutions—Financial Conduct Authority (FCA) · register ↗ as at 25 September 2026
- Overview, authorisation, partners, products, leadership and events—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
- Images—logos and photos from Wikimedia Commons (credited with their author and licence) or from the institution's own website, where Wikimedia has none. Elucidate keeps a copy of each; the links lead to the source and the original image. Logo: payset.io (official website) · original; Perry Asforis: payset.io (official website) · original; Adam Mackulin: payset.io (official website) · original; Senthooran Ramachandran: payset.io (official website) · original; Rudi Reager: payset.io (official website) · original; Ophir Gertner: payset.io (official website) · original; Shachar Ronen: payset.io (official website) · original.
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