David Avgi’s New Venture UNIPaaS Gets UK Payment Institution License

UNIPaaS, the newly founded Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company by SafeCharge's former CEO, has gained a payment institution license from the United Kingdom’s Financial Conduct Authority (FCA).

According to the regulatory directory, the payments firm gained the license on December 14 and is officially registered as UNIPaaS Financial Services Ltd. This license will allow the company to offer several payment services.

“We are very much delighted to achieve this important milestone, very proud of our amazing team and the support from our partners. UNIPaaS has designed a new payment stack that allows online marketplaces and digital platforms to turn the burden in managing payments and financial services into a new financial growth engine,” UNIPaaS Co-founder, David Avgi wrote in a Linkedin post.

New Venture After Successfully Flipping SafeCharge

Avgi is well-known in the payments industry for co-founding and heading SafeCharge for over a decade. The company was acquired by the Nuvei Group last year for $889 million.

UNIPaaS is his second venture in the payments industry, focusing on Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term-based services. Other co-founders of the new company are SafeCharge’s former top executives: Tsach Einav, Oded Kovach, and Limor Liberman.

The newly licensed payments company is offering flexible pay-in/pay-out options for both local and global customers and is targeting companies in both B2B and B2C arenas.

With offices in London and Tel Aviv, the payments company has already onboarded Citibank, AWS, SafeCharge and Banking Circle as its partners, as seen on its website.

“We are excited about collaborating with our first UK partners; companies that are seeking to implement multi-vendor payment systems deeper within their core products,” Avgi added.