We have added, with a very warm welcome, the following to the ‘Ireland’s Regulated Fintech Ecosystem (Payments & Crowdfunding)" Map Version 2:

1. Payoma Ireland Limited (authorised electronic money institution)
2. Bridge Peer Financial Limited trading as Property Bridges (authorised crowdfunding services provider)
3. Slua Ventures Ltd t/a Spark Crowdfunding (authorised crowdfunding services provider)

 
Payoma has also been added to our other regulated fintech map, Version 14, showcasing emoney and payments firms only.

Ireland is now home to 62 authorised or registered fintech across emoney, payments, open banking and crowdfunding.

​Payoma was authorised as an electronic money institution on 3 November 2023, and in addition to electronic money services is authorised to provide payment services 3a, 3b, 3c and 5. 

It is 100% owned by Payoma Limited in the UK which is authorised as an emoney firm by the Financial Conduct Authority. Payoma continues a trend of firms happy to go on the record about their positive experience of dealing with Ireland’s national competent authority, the Central Bank of Ireland saying in a statement “Our heartfelt gratitude extends to the entire team at the Central Bank of Ireland for their unwavering support and belief in the potential of our project. Their guidance has been invaluable, and it is with their assistance that we have realized this ambitious goal.”

Property Bridges and Spark Crowdfunding, both authorised by the cut-off date of 10 November 2023 join Seedrs Europe Limited as the only locally authorised crowdfunding service providers. 

Further Reading:

• Release of version 13 of the Regulated Fintech Emoney & Payments Map 

Sign-up to the Fintech Ireland Newsletter here to keep up to date with Irish fintech news, follows us on Twitter and follow the Fintech Ireland's Linkedin Page.  If you are first connections with Peter Oakes, you can also join the Fintech Ireland Group on Linkedin.

If you need assistance with an emoney or payments authorisation or an account information service provider registration application, check out Fintech Ireland and CompliReg's handy authorisation guides at https://fintechireland.com/fintech-authorisations.html.

On 9 June 2022 the Central Bank of Ireland registered Experian Ireland Limited as an account information services provider (AISP). Experian Ireland becomes the 5th standalone account information services provider joining Circit Limited (registered 25 February 2019), CRIF RealTime Ireland Limited (registered 30 May 2019), Verge Capital Limited (registered 9 March 2020) and LoanITT Limited (registered 5 November 2021).

Thus far in 2022, the Central Bank of Ireland has only authorised two emoney firms and registered one AISP.  So far no payment services firm has been authorised in Ireland in 2022 as we enter the second half of the year.

Experian Ireland was incorporated in Ireland since 1997. According to CRO filings, the company's turnover for the year ended March 2021 was € 3.71mn up from €5.4mn, recording a loss of €111,000 against a profit in the previous year of $1.34mn.

The register reflects that as at 30 June 2022, the doesn't presently passport services across the European Union. 

As at 30 June 2022, Ireland is now home to 19 authorised electronic money institutions, 20 authorised payment institutions and 5 standalone account information service providers. We have updated our regulated fintech Map to version 8.0 where we showcase these firms.

Our Peter Oakes spoke with Charlie Taylor of the Business Post on Sunday 3 July 2022 about the registration of Experian Ireland as an AISP:

• "The news was also welcomed by Peter Oakes, a former Central Bank enforcement director and founder of Fintech Ireland, an industry group."Irish customers will be able to share transactional information from their bank account with other banks and third parties. Customers will be able to better monitor, control and improve the way their banking data is used, including managing their so-called ‘credit score’ when looking for financing.
• “We are yet to see the fruits of open banking in Ireland to the same degree as elsewhere. Together with other fintechs providing open banking, Irish consumers and small businesses will enjoy more choice in an increasingly competitive landscape," Oakes said.

Further Reading: See also Charlie Taylor's article on the authorisation of emoney and payment services firms and the issues firms are facing getting authorised in Ireland in his article of 10 April 2022 titled Defensive attitude of Central Bank putting off fintech investors.  And see our News posts of:

• 25 April 2022 on the announcement of Bookings Holding becoming an authorised emoney firm; and 
• 10 April 2022 titled Defensive attitude of Central Bank putting off fintech investors.