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wamo.io Ltd is an authorized EMD agent by the Financial Conduct Authorty (FCA) of the United Kingdom under the Electronic Money Regulations 2011 (register reference 922901). wamo is an EMD agent of PayrNet Limited.

An EMD agent is a firm that can act on behalf of another firm that is authorised or registered by the FCA as a payment or e-money institution. Services that are rendered by e-money agents can include merchant solutions, e-wallets, e-vouchers, and payment processing.

Issuance of electronic money is done by Authorised Electronic Money Institutions, which are firms that FCA has given permission to issue electronic money (e-money) and provide payment services.

As the authorized electronic money institution partner of wamo, PayrNet holds an equivalent amount of money to the wamo current account balances in a safeguarding account, protecting customer funds against insolvency.

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