What AF Payments does

AF Payments Limited is a UK-based business-to-business financial services firm operating as an Authorised Electronic Money Institution (EMI) under Financial Conduct Authority supervision (FRN 900440). Founded in 2015 by Guy Raymond El Khoury and headquartered at 33 Lowndes Street in Knightsbridge, London, the company provides Payment, Issuing, and Electronic Money products to businesses and their customers. The firm is structured as a small, founder-led operation with 11-50 employees and positions itself as a streamlined alternative to larger payment providers, leveraging a highly customisable technology platform to deploy bespoke payment programmes rapidly.

The company's core product offering centres on the "Accomplish" card programme brand, which enables businesses to issue Mastercard-branded physical and virtual cards to their customers. AF Payments generates revenue through transaction fees on payment processing, issuing fees on card programmes, and licensing arrangements tied to its Mastercard Principal Membership. Apple Pay integration allows Accomplish cardholders to make contactless payments via iPhone and Apple Watch using Face ID or Touch ID authentication, extending the product surface into mobile wallets. The technology stack is described as a configurable B2B payments platform with bespoke programme deployment rather than as a packaged SaaS product.

The firm's go-to-market is direct enterprise sales through a consultation-led, bespoke engagement model with quote-based pricing that is not publicly disclosed. No named customer logos, funding rounds, acquisitions, or headcount growth signals are visible in the source data. The business operates primarily in the UK under European scope, is privately held with no identified external investors or parent company, and has not disclosed any revenue figures, customer counts, or transaction volumes. The limited public footprint and absence of visible scale signals mean the firm should be assessed as a small, niche UK EMI whose commercial scale is unverified.

Name

AF Payments

Legal name

AF Payments Limited

Website

https://afpay.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

AF Payments Limited is a UK-based, FCA-authorised Electronic Money Institution providing B2B Payment, Issuing, and Electronic Money services through its Accomplish Mastercard card programme. Founded in 2015, the firm offers bespoke, rapidly deployed payment solutions to businesses.

Ownership category

akta.pro rank

Product category

Payment Processing & Electronic Money Institution Services

NAICS

Credit Card Issuing (522210), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Embedded Card Issuing & Card-as-a-Service (FSAGALAC)

akta.pro secondary industries

Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), A2A Payouts & Disbursements (FSAMAFAG)

Keywords

• Electronic money institution
• Card issuing services
• B2B payment processing
• Mastercard payment solutions
• Bespoke payment programmes

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Electronic Money Services: Provides Payment, Issuing and Electronic Money products to businesses. Generates revenue through transaction fees, issuing fees, and electronic money services for business clients.
2. Mastercard Products: As a Principal Member of Mastercard, provides clients access to Mastercard products including card issuing and payment processing.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

AF Payments is an FCA-authorised Electronic Money Institution that provides business-to-business financial services including Payment, Issuing, and Electronic Money products. The company issues Mastercard-branded cards under its Accomplish sub-brand and deploys bespoke payment programmes rapidly through its customisable technology platform. Apple Pay integration is offered on issued cards, enabling contactless payments via iPhone and Apple Watch.

Product overview

AF Payments operates as a business-to-business financial institution offering a unified suite of Payment, Issuing, and Electronic Money products. The core offering centers on enabling businesses to issue Accomplish-branded Mastercard cards and process electronic payments through a bespoke, streamlined platform. Apple Pay integration provides mobile payment capability for issued cards. The company functions as an Authorised Electronic Money Institution (EMI) under FCA supervision and Principal Member of Mastercard, combining regulatory authorization with payment infrastructure to deliver comprehensive B2B financial services.

Differentiator

Problem solved

Functional benefit

Brands

• Accomplish: A card programme brand offered by AF Payments, enabling Apple Pay functionality on issued cards.

Products and services

• Payment Products B2B payment solutions enabling businesses to accept and process electronic payments for their customers through AF Payments' bespoke platform.
• Issuing Products Card issuing services allowing businesses to issue physical and virtual Mastercard-branded cards to their customers under the Accomplish brand.
• Electronic Money Products Electronic Money Institution services providing digital money storage, transfers, and wallet solutions for businesses and their customers, operated under FCA EMI authorisation.
• Accomplish Card Programme Mastercard-branded card and payment programme under which AF Payments issues cards to business customers, including Apple Pay enabled support.
• Apple Pay Enabled Card Programmes Bespoke contactless mobile payment programmes enabling cardholders to pay with iPhone or Apple Watch at any contactless terminal showing the Apple Pay logo, secured by Face ID or Touch ID.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature2 records

Partnerships

Two partnerships are on record, tiered core.

• MastercardcoreTechnology or IntegrationAF Payments is a Principal Member of Mastercard, providing clients access to Mastercard products including card issuing and payment processing capabilities. This partnership enables the company to offer comprehensive payment solutions under the Mastercard brand.
• ApplecoreTechnology or IntegrationAF Payments offers Apple Pay enabled card programmes, allowing cardholders to pay with iPhone or Apple Watch using Face ID and Touch ID. The company can launch Apple Pay enabled bespoke card programmes for clients.

Recent moves4 records

Expansion highlights3 records

Direct peers

• Marqeta: Marqeta is a global card-issuing platform that provides APIs and infrastructure for businesses to launch and manage prepaid and credit card programmes, directly competing with AF Payments' embedded card issuing and processing capabilities for B2B clients.
• Galileo Financial Technologies: Galileo, a SoFi company, offers a payments and card-issuing platform for fintechs and corporates, providing similar programme management, processing, and electronic money services as AF Payments, including Mastercard and Visa network integrations.
• Modulr: Modulr is a UK-based FCA-authorised EMI providing payment accounts, card issuing, and embedded payments infrastructure to businesses, making it one of the closest direct competitors to AF Payments in the UK EMI space.
• Treezor: Treezor is a France-based EMI (acquired by Société Générale) offering BaaS and card issuing services to fintechs and corporates, operating a comparable bespoke B2B model in the European market to AF Payments.
• Solaris SE: Solaris is a Berlin-based banking-as-a-service platform licensed in the EEA offering card issuing, e-money, and embedded banking products to enterprises, directly comparable to AF Payments' European B2B EMI and issuing proposition.
• MANGOPAY: MANGOPAY is a European payment service provider offering payment accounts, card issuing, and e-wallets tailored to marketplaces and fintech platforms, comparable to AF Payments' bespoke B2B payment, issuing, and electronic money offering.

Broad incumbents

• Stripe Issuing: Stripe Issuing is part of Stripe's broader payments platform, allowing businesses to create and manage card programmes via APIs; while a much larger incumbent, it overlaps directly with AF Payments' card-issuing and embedded finance offering.
• Adyen: Adyen is a large global payments platform offering card acquiring, processing, and increasingly issuing and embedded financial products; its broad portfolio overlaps with AF Payments' B2B payment, issuing, and electronic money services.
• Checkout.com: Checkout.com is a global payments processor expanding into card issuing and embedded financial services, providing broader competition to AF Payments in B2B payment acceptance and issuing.

Emerging players

• Paydoff: Paydoff is a smaller emerging UK/Europe-focused payments and card programme provider offering B2B issuing and electronic money services, partially overlapping with AF Payments' bespoke programme model in the European EMI space.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AF Payments