Here, you’ll find all the important information about our terms, policies, and compliance standards. We’re committed to being transparent and ensuring our services meet the highest legal and regulatory standards to protect your business and data.
Maayan Payments LTD (“MAAYAN”, “we”, “our”, “us”) is an Electronic Money Institution (EMI), authorised and regulated by the Financial Conduct Authority (FCA). We protect customer (“customer”, “your”) funds in line with the Electronic Money Regulations 2011, through a process known as safeguarding.
One of our key missions is for our customers to understand the nature and extent of the financial security we offer.
No Financial Services Compensation Scheme (FSCS) protection
MAAYAN is not a bank, therefore, it does not pay interest on customer funds, we will not ever use customer funds for lending or investment purposes, nor are customer funds covered by the Financial Services Compensation Scheme (FSCS) or any other compensation scheme.
What is Safeguarding
Your funds are held separately from MAAYAN’s own operating and other funds, in dedicated safeguarding accounts maintained by us with our financial institution partner banks. All our safeguarding arrangements with our partners are in line with the FCA’s safeguarding requirements.
This ensures that in the event of insolvency, all funds held in the safeguarding accounts comprise part of the asset pool and are paid in priority to other creditor claims under the provisions of the Electronic Money Regulations 2011.
Safeguarding Oversight and Audits
MAAYAN conducts regular audits of its safeguarding arrangements, performed by independent auditors. These audits ensure that safeguarding measures are properly maintained, and customer funds remain protected in line with FCA guidelines.
For more details on the levels of protection, please visit the FCA’s website at the following link.
For further information regarding our safeguarding procedure, please contact us at [email protected]