Modulr FS Ltd (FRN: 900573) is licensed as an authorised E-Money Institution (EMI) and regulated by the Financial Conduct Authority (FCA). This enables Modulr to issue e-money to its customers, hold customer funds in safeguarded accounts and provide related payment services to customers. Modulr Finance Limited (FRN: 900699) is registered with the Financial Conduct Authority as an E-Money Distributor (EMD) Agent of Modulr FS Limited.
Payment services in the UK are subject to the Payment Services Regulations (PSRs). The PSRs apply to all payment services, meaning in relation to payment services, there is no difference in how Modulr and other payment service providers and banks are regulated.