United Kingdom · Payments & e-money
Prune Payments LTD
Prune Payments Ltd is a private limited company registered in England and Wales and based in London. The Financial Conduct Authority (FCA) authorises it as an authorised payment institution under the Payment Services Regulations 2017, reference 670226. Companies House lists Toyeeb Ibitade Ibrahim as its person with significant control, holding 75% or more of the shares. Under the Prune brand it offers international money transfers and currency conversion through an app, mainly from the UK to Nigeria, as well as payout services for businesses. The company was incorporated in 2011 as MB Transfers Ltd, renamed ArcaPay Ltd in 2016 and renamed Prune Payments Ltd in January 2024.
Licences and registrations
Held by Prune Payments LTD (LEI 549300ERHJE9WU0EIK44). 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 - Payment Institutions & RAISPsFCALinked by LEI. Matched by Elucidate on the UK company number the register gives. | Authorised Payment InstitutionPayment Institution | 670226 | United Kingdom | Active | 2018-04-18 | — |
|
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.
Other register entries with this LEI
Shown for reference: they share the LEI but are not merged into this page
Swift network
Swift’s ISO 9362 BIC directory
- BIC
- ARPYGB21XXX head office
- Connection to Swift
- Passive participant (no connection)This BIC is registered for identification only. The institution has no direct connection to the Swift network. Messages and payments reach it through a correspondent bank. The “1” in the eighth character of ARPYGB21 marks a passive participant.
- 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
- 2018-05-05
- Last updated
- 2024-01-12
Overview
Researched 29 Sep 2026 · Sources
Customers
Not published
Ownership
Privately held
Firm type
Money remittance
Trades as Prune
- Standing
- The firm was renamed from ArcaPay Ltd to Prune Payments Ltd on 8 January 2024, after a change of control on 1 December 2023. Its audited accounts for 2025 disclose a material uncertainty that may cast significant doubt on its ability to continue as a going concern.
- Ownership
- Companies House records Toyeeb Ibitade Ibrahim as holding 75% or more of the shares since 1 December 2023. On that date Arcapay Holdings Limited stopped being the person with significant control.
- Major shareholder
- Toyeeb Ibitade Ibrahim
- Head office
- 35-37 Ludgate Hill, Office 7, EC4M 7JN London, United Kingdom
- Company register
- Companies House 07762021
- Incorporated
- 5 Sep 2011
- Former names
- ARCAPAY LTD · MB TRANSFERS LTD
Online
- Websites & references
- prunepayments.com ↗
app.prunepayments.com ↗ web app sign-up page, linked from the homepage in place of app-store links - Official social accounts
- LinkedIn ↗ · X ↗ · Facebook ↗ · Instagram ↗ · TikTok ↗
Sources · 12 pages consulted
- find-and-update.company-information.service.gov.uk/company/07762021
- find-and-update.company-information.service.gov.uk/company/07762021/officers
- find-and-update.company-information.service.gov.uk/company/07762021/persons-with-significant-control
- find-and-update.company-information.service.gov.uk/company/07762021/filing-history
- find-and-update.company-information.service.gov.uk/company/07762021/filing-history/MzUzNTQ0MzE0M2FkaXF6a2N4/document?format=pdf&download=0
- prunepayments.com/
- prunepayments.com/terms-and-conditions
- prunepayments.com/about-us
- cbn.gov.ng/PaymentsSystem/InternationalMoneyTransferOperators.html
- techpoint.africa/news/leatherback-founder-resurfaces-with-rival-fintech-startup/
- techcabal.com/2024/10/25/ibrahim-ibitade-leatherback-exit-and-efcc/
- techcabal.com/2023/11/17/efcc-declares-ibrahim-toyeeb-ibitade/
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
The FCA authorises the firm as an authorised payment institution under the Payment Services Regulations 2017, reference 670226. The firm also says it holds a Polish small payment institution status and a Central Bank of Nigeria licence as an international money transfer operator (IMTO), but neither could be confirmed for this entity.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Financial Conduct Authority United Kingdom | Authorised Payment Institution | 670226 | In its own name | Active | register.fca.org.uk ↗ |
| HM Revenue & Customs United Kingdom | Money service business registration (described by the firm as licensed money transmitter) | XBML00000150442 | In its own name | Status unconfirmed | — |
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 safeguards customer money in dedicated client money accounts held with commercial or central banks, kept separate from its own money. It does not name the banks.
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 offers app-based remittances with currency conversion, mainly from GBP to Nigeria, and payouts and virtual account issuance for businesses. It pays customer rewards on transfers.
It serves senders in the UK under its FCA authorisation. Its website says it is starting in Nigeria and plans to expand to other markets.
- Revenue
- GBP 306,256
- Sells to
- Consumers · Small businesses
- Serves customers in 2 countries
- United Kingdom · Nigeria
Leadership
Researched 29 Sep 2026 · Sources
- Executive
- Toyeeb Ibitade Ibrahim Director
- Executive
- Abdulaziz Muyiwa Ibraheem Director
- Executive
- Kabir Adeyemi Ibraheem Director
- Executive
- Bilkis Omolola Simisola Lawal Director
Recent events
Researched 29 Sep 2026 · Sources
-
Funding
The firm allotted new shares on 15 September 2026, raising its stated share capital to GBP 989,437 from GBP 120,000.
find-and-update.company-information.service.gov.uk ↗ -
Other
The directors approved 2025 accounts showing revenue of GBP 306,256, a loss of GBP 43,252 and a material going-concern uncertainty.
find-and-update.company-information.service.gov.uk ↗ -
Other
Techpoint Africa reported that Ibrahim Ibitade, former chief executive of Leatherback, had launched Prune Payments as a cross-border payments company.
techpoint.africa ↗ -
Leadership
Toyeeb Ibitade Ibrahim became a director on 1 March 2024. Long-standing director Marius Bausys resigned on 2 March 2024.
find-and-update.company-information.service.gov.uk ↗ -
Other
The company changed its name from ArcaPay Ltd to Prune Payments Ltd on 8 January 2024.
find-and-update.company-information.service.gov.uk ↗ -
Merger / acquisition
Control passed on 1 December 2023 from Arcapay Holdings Limited to Toyeeb Ibitade Ibrahim, who holds 75% or more of the shares.
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
- ARPYGB21XXX
- How the BIC breaks down
- ARPYBank
- GBCountry · United Kingdom
- 21Location · passive
- XXXBranch · head office
- Branch description
- Not recorded in the directory
- LEI
- 549300ERHJE9WU0EIK44
- LEI record
- View on GLEIF ↗
- Licence no. · FCA-PSD
- 670226
- 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
- 0087cf55594b
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
- Licensed in
- United Kingdom
- Website (register)
- www.prunepayments.com.com ↗
- 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
- 35-37 LUDGATE HILL OFFICE 7 LONDON EC4M 7JN UNITED KINGDOM
- Operational address
- 35-37 LUDGATE HILL OFFICE 7 LONDON LONDON EC4M 7JN 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+
- Debtor agent, creditor agent or an intermediary agent
CBPR+
For cross-border payments on Swift: the BIC, with the LEI and clearing code where known
<FinInstnId>
<BICFI>ARPYGB21XXX</BICFI>
<LEI>549300ERHJE9WU0EIK44</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>ARPYGB21XXX</BICFI>
<LEI>549300ERHJE9WU0EIK44</LEI>
<Nm>PRUNE PAYMENTS LTD</Nm>
<PstlAdr>
<TwnNm>LONDON</TwnNm>
<Ctry>GB</Ctry>
<AdrLine>35-37 LUDGATE HILL OFFICE 7 LONDON EC4M 7JN</AdrLine>
</PstlAdr>
</FinInstnId>This BIC is not connected to Swift. Messages reach the institution through a correspondent bank, so it cannot be the instructing or instructed agent.
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 - Payment Institutions & RAISPs—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: prunepayments.com (official website) · original.
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