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 is a Financial Conduct Authority (FCA) authorised and regulated electronic money institution (EMI). We are committed to providing fair, transparent, and inclusive financial services to all customers. Ensuring the fair treatment of vulnerable customers is an integral part of our commitment to delivering positive customer outcomes and aligning with the FCA’s Consumer Duty requirements.
No one is immune to being vulnerable – it can happen to anyone, at any stage of life, under a variety of circumstances. We understand that this can lead to situations where you may require more help from us than our standard service.
We want to make sure that all of our customers with vulnerabilities are treated fairly, based on their individual circumstances.
As an FCA authorised and regulated electronic money institution, the FCA’s “Consumer Duty” applies to products and services we offer to retail customers (including micro enterprises and small charities with an annual turnover of less than £1 million) and to the extent that we determine or have a material influence over consumer outcomes in the UK.
What is Vulnerability?
A vulnerable customer is someone who, due to their personal circumstances, is especially susceptible to harm, particularly when a firm is not acting with appropriate levels of care. Vulnerability can arise from:
These characteristics may result in additional or different needs and may limit a customer’s ability to make decisions or represent their own interests. We are committed to providing a level of care that is appropriate to each customer’s circumstances.
Characteristics of vulnerability may result in consumers having additional or different needs and may limit their ability or willingness to make decisions and choices or to represent their own interests. These consumers may be at greater risk of harm, particularly if things go wrong. We, therefore, seek to provide our customers with a level of care that is appropriate given the characteristics of the customers themselves.
Our Approach to Vulnerability
We seek to embed the fair treatment of vulnerable customers in our policies and processes throughout the whole customer journey. The level of care that is appropriate for vulnerable consumers may be different from that for others and we seek to take particular care to ensure they are treated fairly. As part of our onboarding process, we seek to understand the characteristics of the vulnerability of retail customers and their needs.
Where we recognise that an individual consumer has a specific need, we will inform our relevant customers about the options of help and support we offer to meet the needs of vulnerable consumers.
We are also aware that all consumers are at risk of becoming vulnerable and may become more or less vulnerable, and so have an increased or reduced risk of harm throughout their lives. We seek to ask ourselves what types of harm or disadvantage our customers may be vulnerable to, and how our own actions can increase or reduce the risk of harm.
Escalation and Further Assistance
If a vulnerable customer requires additional support beyond our standard service, we offer:
Ongoing Commitment and Monitoring
We continuously review and improve our approach to supporting vulnerable customers by:
Staff Training and Culture
We train all our staff rigorously on how to identify and support vulnerable customers. This training is embedded into the culture of our firm to ensure that vulnerability is considered in all aspects of our operations.
Contact us
Our company representative will be happy to support you and discuss any information you feel would assist with your personal circumstance. Please contact us at support@maayanpayments.com