- Trading Name: Payello
- Legal Entity: Payello Ltd/Payello LLC/Payello Europe Limited
- Activities: Global financial platform
- Location: London, UK
- Regulations: not regulated
- Key People: Ben Trigg (Linkedin)
Payello is a financial platform that provides a variety of financial services for consumers and businesses, including:
- a multi-currency digital wallet
- payment processing
- card issuing
- money transfer
- financial management tools such as accounting, expenses, team management and payroll.
Payello supports processing payments in 135+ currencies, allowing you to charge customers in their native currency while receiving funds in yours.
They offer a total of 3 different packages:
- Standard: For Free
- Plus: 15 pounds/Month
- Enterprise: 100 pounds/Month
Payello Ltd and Payello Europe Limited claim to collaborate with various financial institutions (The Currency Cloud Limited ) to offer electronic money issuance and payment services through their Payello Wallet and Payello Payments services. These institutions are authorized by regulatory authorities in the UK, the Netherlands, and Cyprus. Payello LLC partners with Wyre Payments, Inc., authorized in multiple U.S. states, and Stripe Payments Company, providing payment services with funds held in FDIC member banks.
Payello has also claimed to be an appointed agent of The Currency Cloud Limited (“TCCL”), which is authorized by the Financial Conduct Authority (FCA) in the United Kingdom under the Electronic Money Regulations 2011 and the Payment Services Regulations 2017 to issue electronic money and provide payment services under FCA registration number 900199. However, we could not find any entries about it in the FCA Register.
There are also no available documents about the cooperation with the other regulated EMIs mentioned above.
- Ben Trigg (Linkedin): CEO
- Date of birth: June 1998
- Nationality: British
Trustpilot: 4,3 Stars with 7 Reviews
We could not find anything negative around Payello and also all the necessary information is given on their website. On the website Payello calls itself regulated but we could not find any regulatory permission. The payment processor says on its website that it is an appointed representative of FCA-regulated firms, but Payello does not appear on the FCA’s Financial Services Register. We were not able to verify the regulation information provided and, as a precautionary measure, we put Payello on Orange.