Dutch Paytech Platform OPP Secures UK EMI Licence

The Dutch online payment platform OPP has successfully obtained an EMI licence in the UK, enabling enhanced services and regulatory compliance.

In a significant development within the European fintech landscape, Online Payment Platform (OPP), a Netherlands-based entity specializing in a comprehensive suite of payment solutions tailored for marketplaces and platforms, has successfully obtained an electronic money institution (EMI) license from the Financial Conduct Authority (FCA) in the United Kingdom. This strategic acquisition of regulatory approval is poised to enhance OPP's operational capabilities, enabling the facilitation of consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B) transactions across the UK.

The company has articulated its intent to leverage this newly acquired license to introduce a wallet solution, a feature that is anticipated to empower businesses in both mainland Europe and the UK to augment their cross-border payment functionalities while adeptly navigating the intricate labyrinth of international expansion. Established in 2011 and subsequently launching its services in 2013, OPP's payment offerings encompass a diverse array of functionalities, including multi-split payments, dispute resolution mechanisms, automated mediation, and an escrow service.

As part of its evolving service portfolio, OPP is set to integrate what its commercial director, Steve Lavington, has characterized as a “much-demanded wallet solution.” This addition will enable clients to receive and securely store funds for future transactions, thereby enhancing the overall user experience. With a robust presence in London, where it employs a dedicated team of over 100 professionals, OPP also maintains operational offices in Berlin, Germany, and Delft, its home base in the Netherlands.

In a noteworthy collaboration earlier this month, OPP joined forces with Worldline, a company that acquired a 40% stake in the paytech firm in 2022. This partnership has culminated in the launch of an innovative embedded payments solution, which synergistically combines OPP’s cutting-edge technology with Worldline’s acquiring, acceptance, and point-of-sale (POS) capabilities. The resultant offering is touted as a “complete, turnkey solution” designed to facilitate rapid user onboarding, efficient sales processes, and expedited payment collection, all while adeptly managing transactions across multiple currencies.

In a world where financial transactions can often resemble a complex game of chess, OPP is positioning itself as a formidable player, ready to navigate the intricacies of the payment landscape with both finesse and a touch of humor.