The Association of UK Payment Institutions (AUKPI) represents Payment Institutions regulated by the Financial Conduct Authority (FCA). It was previously known as the UK Money Transmitters Association and the name was changed in November 2014. The Association’s principal role is to provide a forum where member firms can come together to discuss and collectively respond to issues of common concern. It also offers services to members, including online AML training.
Additionally, AUKPI aims to represent the interests of the industry to law makers, regulators, banks and other financial institutions and consumers at both UK and European level.
Member firms may offer any of the services allowed under the Payment Services Regulations 2009, including online foreign exchange and related payments business, money remittance and associated services, merchant acquiring, payment accounts, card processing, execution of payment transactions – direct debits, payment cards, credit transfers, standing orders, payment initiation services, etc. AUKPI also offers membership to others with an interest in the payments sector such as technology and professional services firms. AUKPI strives to be the representative of the industry with the UK government and within the European Union – in particular, to ensure that the voice of smaller and medium sized firms is heard.