Brexit

Our approach to Brexit

The UK has left the EU on 31 January 2020 and is now in a transition period to agree on a trade deal by 31 December 2020. 

To ensure business continuity for customers, PXP Financial has set up a partnership with our sister company Finolita Unio LLC. Finolita has an EMI licence granted by the Central Bank of Lithuania, allowing the company to passport payments to all EU and EEA/EFTA countries. Finolita also holds the appropriate registrations with the applicable card schemes.

We at PXP Financial are committed to ensuring that business continues as usual for all of our customers, wherever they are. If you have further questions about our Brexit setup, please see our FAQs below:

Frequently asked questions

We have compiled a list of our most frequently asked questions below:

What is PXP Financial’s business continuity plan?

In order to ensure that you can continue to receive services under the merchant agreement, PXP Financial has set up a partnership with Finolita Unio LLC. Under this agreement, all of the PXP Financial EU acquiring aggregation business are transferred to Finolita. Finolita has the same contractual obligations to merchants and partners in the EU as we do now.

 

Who is Finolita?

Finolita Unio LLC. is a new financial service provider located in Vilnius, Lithuania. The company holds an electronic money institution (EMI) licence granted by the Bank of Lithuania. This allows the company to passport its services to other EU countries and to countries in the EEA and EFTA.

What is the nature of the relationship between Finolita and PXP Financial?

Finolita Unio LLC. is part of our group of companies, it is a ‘sister company’.

What impact does Brexit have on our contractual obligations with PXP Financial?

We would like to reassure our valued customers that you remain our priority and as such there is no change in our service operations. You will continue to be supported by PXP Financial with Finolita as the licence holder and the operational, service and contractual conditions remain the same. The point of contact and your Client Care Manager stay the same.