System Pay Services

What System Pay Services does

System Pay Services Limited is a UK-based Electronic Money Institution (EMI) authorized and regulated by the Financial Conduct Authority under reference 901057 (company number 11621763), headquartered at 89 Charterhouse Street, London. The company provides regulated e-money accounts denominated in GBP and EUR, issuing dedicated sort codes and virtual IBANs (vIBANs) that enable businesses to accept incoming payments and make outgoing payments. Payment processing is built on top of four core rails: SEPA, SEPA INSTANT, CHAPS, and Faster Payments, covering both UK domestic and Eurozone cross-border corridors.

The platform extends beyond account provision into payment acceptance, supplier payment execution, and invoice generation with integrated payment links that can convert any channel into a checkout. Underlying the service is a security-and-compliance-oriented stack featuring multilayered AML controls, transaction monitoring, fraud and risk analysis, high-level data encryption, and what the company describes as best-in-class custody and checkout security. A Verified by Visa integration adds cardholder authentication for card-based transactions. Customer onboarding is handled through a self-service online portal that supports product-led growth: customers log in, apply, and begin transacting immediately upon approval, with no disclosed public pricing and a sales-led quote model for contract terms.

Revenue is generated through transaction fees on e-money and payment services, with no public pricing disclosure. No customer logos, segment-level revenue mix, headcount, or transaction volume figures are publicly available. In terms of corporate trajectory, System Pay Services has been acquired by BVNK Group and now operates as part of that organization, with BVNK citing the UK EMI license as an accelerant for its own expansion. The company serves UK and European businesses needing regulated, multi-currency payment infrastructure, with a horizontal use-case segmentation across accepting payments, paying suppliers, and invoicing rather than vertical specialization.

Name

System Pay Services

Legal name

System Pay Services Limited

Website

https://systempay.co.uk

Company type

Private

Operating status

Acquired

Short description

System Pay Services Limited is a UK FCA-authorized Electronic Money Institution providing regulated e-money accounts and payment processing in GBP and EUR via SEPA, SEPA INSTANT, CHAPS, and Faster Payments rails, now operating as part of BVNK Group.

Ownership category

akta.pro rank

Product category

Payment Processing and E-Money Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)

akta.pro secondary industries

Integrated Payment Processors (PSP/Acquirer) (FSAMABAA), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)

Keywords

• Payment processing
• E-money accounts
• Cross-border payments
• Electronic money institution
• Multi-currency payments

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Payment Processing and E-Money Services: Revenue generated from e-money account services and payment processing across SEPA, SEPA INSTANT, CHAPS, and FASTER PAYMENTS rails. Services include accepting payments, paying suppliers, and invoice generation via payment links.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

System Pay Services is a UK FCA-regulated Electronic Money Institution that provides e-money accounts and payment processing services in GBP and EUR. Businesses can create dedicated accounts with sort codes and virtual IBANs to accept customer payments, pay suppliers, and generate invoices with integrated payment links. The platform supports SEPA, SEPA INSTANT, CHAPS, and Faster Payments rails, with multilayered AML, fraud monitoring, and data encryption underpinning transactions.

Product overview

System Pay Services operates as a unified e-money and payment platform offering a single integrated suite of services. The core offering consists of e-money accounts with dedicated sort codes and virtual IBANs for GBP and EUR transactions. Built on top of these accounts are payment acceptance, supplier payment, and invoice generation features. All services leverage multiple payment rails including SEPA, SEPA INSTANT, CHAPS, and Faster Payments. The platform is now part of the BVNK Group following acquisition.

Differentiator

Problem solved

Functional benefit

Products and services

• E-Money Accounts
• Payment Acceptance Services
• Supplier Payment Services
• Invoice Generation with Payment Links

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• BVNK GroupflagshipStrategic or Co-development PartnerSystem Pay Services is now part of the BVNK Group. BVNK has acquired System Pay Services as a UK-licensed e-money institution to accelerate its expansion. System Pay Services operates as part of the BVNK Group.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• ClearBank: UK-regulated clearing bank and EMI providing real-time payment accounts and payment processing on Faster Payments, CHAPS, and SEPA rails. Comparable infrastructure-led model serving UK and European corporates.
• Modulr: UK FCA-authorized EMI offering business payment accounts, sort codes, and payment rails including Faster Payments and CHAPS. Closely comparable to System Pay Services in serving UK businesses needing regulated payment infrastructure.
• Wise: UK-headquartered FCA-regulated EMI providing multi-currency accounts and cross-border payments in GBP and EUR, with dedicated account details for businesses. Direct overlap with System Pay Services' core e-money account and payment acceptance offering.
• Currencycloud: Cross-border payments platform (now part of Visa) offering multi-currency accounts and payment processing via SWIFT and local rails including SEPA. Comparable to System Pay Services in cross-border GBP/EUR payment infrastructure.
• Equals Money: UK-regulated payment services provider offering multi-currency accounts and international payment solutions for businesses. Directly comparable in serving UK/EU corporates with cross-border payment needs.
• Revolut: UK FCA-authorized EMI offering multi-currency business accounts with sort codes and IBANs for GBP and EUR transactions, plus cross-border payment capabilities. Direct overlap on regulated e-money accounts and payment acceptance.

Emerging players

• BVNK: Parent company of System Pay Services and a payments platform offering business accounts and multi-currency payment infrastructure. Comparable in product scope but operating as the acquirer with broader geographic and currency ambitions.

Broad incumbents

• Stripe: Global payment processor with UK and EU presence, offering integrated payment acceptance and Stripe Treasury accounts. A larger incumbent serving overlapping business customers with broader capabilities than System Pay Services.
• Worldpay: Major UK-based merchant acquirer and payment processor providing payment acceptance across multiple rails and currencies. Broader incumbent with portfolio offerings that overlap System Pay Services' payment acceptance services.
• Checkout.com: UK-headquartered global payment processor serving enterprise merchants with end-to-end acquiring and processing. Overlaps with System Pay Services on payment acceptance for UK/EU businesses at significantly larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

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 System Pay Services