Noda

Open banking service

Key Data

  • Trading Name: Noda
  • Legal Entity: Naudapay Limited
    Noda Pay, UAB
  • Activities: open banking services
  • Location: United Kingdom
  • Regulations: regulated by the FCA as a payment service provider
  • Key People: controlled by Dmitrii Borisovich Volkov (Linkedin)

Noda is a platform for providing open banking services from personal financial management to online payments for e-commerce. They are controlled by Dmitrii Borisovich Volkov (Linkedin), a Russian citizen living in Malta.

Noda Pay is backed by Social Discovery Ventures (SDVentures), an international holding company and investment fund for technology companies offering social discovery platforms.

Noda is fully available to users in the UK and EU and is regulated by the FCA as a payment service provider.

Offering

It offers various online payment services, including direct payments from the payer’s bank account to the merchant’s bank account without any intermediaries (such as Visa, and PayPal) and alternative payments from credit cards, online wallets, cryptocurrencies, etc.

In addition, Noda Pay provides APIs for integration with other payment platforms.

For online merchants, Noda provides a new way to accept online payments and receive instant bank payments from e-customers via the Noda Pay Smart button.

Interesting Connections!

We have found both Noda and WLPay as payment facilitators for offshore casinos and gambling platforms. For example, in the casinos of NewEra, which have a license on Curacao. But also the casinos of FGS Software Solutions S.R.L, a casino operator registered in Costa Rica. Their platforms also acquire players and their funds in EEA jurisdictions, although they do not have a regulatory license.

NaudaPay Limited, based at Canary Wharf in London, was founded in December 2018 by SOL Holdings Limited, which is registered in Cyprus. The director of this company is Dmitrii Borisovich Volkov, a Maltese citizen who entered into the UK Companies Register as the controlling person of NaudaPay with more than 75% of the shares until June 2023. Volkov, who was born in Moscow, was sanctioned by Ukraine in 2023.

NaudaPay has held the FCA license as a payment institution since October 2019.

The WLPay brand is likely to be the company’s secondary brand, which we have often found as a payment processor at online casinos and gambling companies.

Conclusion

We could not identify any irregularities around the company and include them in our “Green Compliance” list.

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