British Electronic Payments Institution

What British Electronic Payments Institution does

BEPI is an FCA-authorised Electronic Money Institution (FRN 941723) founded in 2020 and headquartered at 1 Phipp Street, London, providing API-first financial infrastructure to businesses across the UK, the EU, and selected international markets. Its platform unifies nine products: multi-currency business accounts, FX and currency exchange, Banking-as-a-Service APIs, virtual IBANs (vIBANs), corporate cards (physical and virtual), specialised advertising-spend and travel cards, and an in-launch merchant acquiring service. The technical stack integrates all major payment rails — SEPA, Faster Payments, SWIFT, and CHAPS — alongside Visa, Mastercard, and Apple Pay, with a developer-oriented API surface that supports embedded finance use cases and automated reconciliation.

The company serves five defined customer segments, with fintechs/SaaS platforms and e-commerce/global marketplaces treated as primary, alongside digital SMEs and agencies, UK tech start-ups, and travel/cross-border businesses. Revenue is generated through a mix of account and subscription fees, per-transaction payment processing charges, FX conversion spreads, card-issuing fees, and BaaS licensing — with all pricing individually negotiated based on transaction volume, funding model, and program structure rather than published tiers. Go-to-market is hybrid: self-service digital onboarding for faster SMB activation, combined with a dedicated relationship-management team handling enterprise and mid-market deals under multi-year contracts. Founded by Alex Djugajevs (Director and Co-founder) and Stas Yoffe (Co-founder and CFO), BEPI operates with 11–50 employees across London and an engineering and business development hub in Tallinn, Estonia, holding no disclosed parent company, institutional investors, or external funding to date.

Name

British Electronic Payments Institution

Legal name

BEPI LTD

Website

https://bepi.uk

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

BEPI is an FCA-authorised Electronic Money Institution providing API-first multi-currency business accounts, FX, corporate and virtual cards, Banking-as-a-Service, vIBANs, and merchant acquiring to fintechs, e-commerce platforms, digital SMEs, and cross-border businesses.

Ownership category

akta.pro rank

Product category

Electronic Money Institution & Business Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Credit Card Issuing (522210)

SIC

Finance Services (6199)

akta.pro primary industry

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

akta.pro secondary industries

Cross-Border & FX Payments Platforms (BPAMAFAK), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB), Risk, Compliance & Controls for Embedded Finance (KYB/KYC/AML, Fraud, Disputes) (FSAGALAK)

Keywords

• Electronic money institution
• Multi-currency business accounts
• Banking-as-a-service
• Corporate card issuing
• Payment processing

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Account and Subscription Services: Pricing based on transaction volume, funding model, and program structure. Each setup is discussed individually with flexible pricing tailored to business needs. Revenue derived from account maintenance and service fees.
2. Transaction and Payment Processing: Fees from processing payments across SEPA, Faster Payments, SWIFT, CHAPS networks. Card acquiring services for merchants with transaction-based pricing.
3. FX and Currency Exchange: Revenue from currency conversion spreads on FX transactions. Rates may include markup during business and off-hours based on market conditions and liquidity.
4. Card Issuing Services: Revenue from issuing virtual and physical corporate cards with associated transaction fees for spending controls and expense management.
5. Banking-as-a-Service / BaaS: Full-stack banking infrastructure provided to platforms and fintechs through API integration, enabling them to offer payment services without regulatory licensing

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

BEPI is an FCA-authorised Electronic Money Institution that provides multi-currency business accounts, virtual and physical corporate card issuing, FX exchange, and payment processing across SEPA, Faster Payments, SWIFT, and CHAPS rails. The company also offers a Banking-as-a-Service API layer enabling platforms and fintechs to embed financial services, along with vIBAN generation for payment collection and reconciliation, and merchant acquiring for card acceptance.

Product overview

BEPI (British Electronic Payments Institution) operates as a unified platform combining nine interconnected financial products. The core offering centers on multi-currency business accounts with integrated FX capabilities, supported by virtual and physical card issuing solutions. The Banking-as-a-Service module enables platforms to embed these financial tools via API. Card products include general-purpose Corporate Cards and Virtual Cards, plus specialized Advertising Spend Cards for marketing budgets and Travel Cards for business trips. The vIBAN service provides virtual IBAN generation for payment collection, while Merchant Acquiring completes the suite by enabling card acceptance. All products share a common infrastructure for payments processing across SEPA, SWIFT, Faster Payments, and CHAPS rails.

Differentiator

Problem solved

Functional benefit

Products and services

• Multi-currency Accounts Business account enabling companies to hold, receive, and send funds in multiple currencies within a single account. Supports instant account activation, multi-currency balances, and international payment capabilities for businesses operating across markets.
• FX & Exchange Foreign exchange service for converting currencies at competitive rates with full cost transparency. Supports GBP, USD, and EUR as primary currencies plus AUD, CAD, JPY, PLN, HUF, and ILS.
• Banking-as-a-Service (BaaS) Full-stack banking infrastructure API allowing platforms to embed financial tools including payments, accounts, and card issuing. Provides secure API rails for multi-market deployment, enabling partners to offer payment services without their own regulatory licence.
• vIBAN (Virtual IBAN) Virtual International Bank Account Number service enabling platforms to generate unique IBANs via API for payment collection, identification, and reconciliation across markets with automated reconciliation.
• Corporate Cards Physical and virtual corporate debit cards for business expenses. Features include instant issuance, custom spending limits, permissions management, and global payment capabilities.
• Virtual Cards Digital payment cards with no physical version for secure online payments. Issued instantly for online purchases, subscriptions, and advertising spend with flexible limits and real-time transaction visibility.
• Merchant Acquiring Card payment acceptance service allowing businesses to accept Visa and Mastercard payments online and in-store. Includes transparent pricing, instant settlement, and real-time revenue access for e-commerce companies, service providers, marketplaces, and subscription businesses.

Quantifiable outcome

• Open business account in minutes
• +2 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature6 records

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Weavr: UK-based BaaS provider enabling platforms to embed financial services via APIs, with a focus on corporate card and payment solutions. Comparable to BEPI in API-first embedded finance positioning and SMB/platform focus.

Direct peers

• ClearBank: UK-based clearing bank and BaaS provider offering embedded banking infrastructure, payments, and accounts to fintechs and platforms. Direct competitor to BEPI in the UK EMI/BaaS space with similar regulatory positioning and platform-led GTM.
• Modulr: UK FCA-authorised EMI providing payments-as-a-service and embedded banking infrastructure via APIs to platforms and businesses. Closely comparable to BEPI in product mix (accounts, payments, BaaS APIs) and target segments (fintechs, platforms, SMEs).
• Currencycloud: Visa-owned UK cross-border payments and FX-as-a-service platform offering multi-currency accounts and FX APIs to platforms and fintechs. Direct overlap with BEPI's FX, multi-currency, and BaaS capabilities.
• Treezor: French EMI providing Banking-as-a-Service infrastructure including accounts, cards, and payment APIs across Europe. Comparable to BEPI as a European EMI offering embedded finance rails to platforms.

Broad incumbents

• Revolut Business: Global neobank offering multi-currency business accounts, cards, FX, and expense management to SMEs and enterprises. Overlaps with BEPI across accounts, FX, and corporate cards, but at much larger scale and broader geographic footprint.
• Wise (formerly TransferWise): Global multi-currency account and cross-border payments platform serving consumers, businesses, and platforms. Directly comparable to BEPI on multi-currency accounts and FX, but with deeper currency coverage and substantially larger scale.
• Stripe: Global payments platform with embedded finance products (Issuing, Treasury, Financial Connections) serving platforms and businesses. Comparable to BEPI in card issuing and BaaS distribution; broader but overlapping customer base.
• Marqeta: US-listed modern card issuing platform providing API-driven card programs and embedded payments infrastructure. Comparable to BEPI's virtual and physical card issuing capabilities, with a much larger scale and broader feature set.
• Adyen: Global payments platform serving enterprise merchants with unified acquiring, issuing, and FX capabilities. Comparable to BEPI's merchant acquiring and cross-border payment ambitions, but at significantly larger scale and enterprise focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/BritishPayment
• LinkedInlinkedin.com/company/britishpayments

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

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 British Electronic Payments Institution