Nuapay is licenced and regulated as a full Payment Institution.
What can a Payment Institution do?
With Nuapay, Sentenial's Payment Institution, customers are issued with one or more accounts as appropriate for their needs with these accounts being accessible and managed over the Internet. Customers can make or receive credit transfers and direct debits with the money either being received into or paid out of their Nuapay account.
addition to facilitating the processing of payments, Nuapay provides customer with a wide range of features that greatly simplify both the processing and management of payments.
What can't a Payment Institution do?
Nuapay can issue customers with accounts that look and feel like a bank account but there are necessarily some limitations on what these can be used for.
Is my money safe?
All of the customers' money is thus fully protected against Nuapay not being able to fulfil any of its obligations. This differs substantially from banks where only a relatively small percentage on customer's money is safeguarded.
Who regulates a Payment Institution?
Nuapay is regulated in London by the Financial Conduct Authority (the FCA).