In accordance with the agreements with our regulators, we are obliged to inform you of the current status of our onboarding policies for agents and distributors.
As of now, we are currently unable to accept or onboard any new agents or distributors without the explicit, prior written consent from our regulators. We are actively working to resolve our arrangements with them and appreciate your understanding and patience during this time.
The emphasis on transparency and adherence to regulations are fundamental aspects of our firm's philosophy. We are dedicated to operating within the guidelines set by our regulators to ensure the highest level of service to our partners, stakeholders, and customers.
If you are an agent or a distributor interested in partnering with us, we encourage you to stay in touch as we navigate through these regulatory requirements. For any further queries or clarifications, please feel free to contact us at https://www.railsr.com/support.
Thank you for your understanding and cooperation.
What is the relationship with Railsr?
PayrNet Ltd is a wholly owned subsidiary of Railsr† that holds the regulated financial services licenses and payment scheme memberships for Railsr. Customers contract with PayrNet for regulated services and with Railsr for technology services.
Which regulatory licenses does PayrNet hold?
PayrNet holds the following regulatory licenses:
eMoney Institution (EMI) license 900594 in the UK
What Payment Scheme Memberships does PayrNet hold?
Visa Principal Issuing license for UK & Europe
Mastercard Principal Issuing license for UK & Europe
Direct Participant of UK Faster Payments
Direct Participant of Bacs
Indirect Member of SEPA
SUPE grade member of SWIFT
What are the PayrNet legal entities and other registrations?
PayrNet Limited (09883437) is registered in England & Wales
PayrNet Limited is registered under the UK Data Protection Act (ZA162716)
As an Open Banking Third Party Provider (TPP), how do I access PayrNet accounts?
If you are a Third Party Provider (TPP) wishing to register for Open Banking access, to PayrNet Ltd. (UK), please contact us.
How to make a complaint
If you wish to raise a complaint with PayrNet Ltd, please complete this form no later than within 3 months from the day on which you became aware of, or should have become aware of, the infringement of your rights or legitimate interests.
Besides personal/contact information, you should specify the circumstances of the dispute and attach supporting documents on the basis of which you are making a complaint. Once we have received your complaint we will acknowledge this via email.
If the PayrNet decision does not satisfy you, or you did not receive any reply within 15 working days, you have the right to escalate to the Financial Ombudsman Service. For further details please click here.
Reporting or requesting help with a fraud
We treat all claims seriously. For UK citizens, if you have, or suspect you have been a victim, please complete this form.
Please note we are not able to discuss via social media. As an initial step, kindly ensure you contact your bank, or financial institution, where you were defrauded and tell them of this matter urgently. We will need confirmation from them before we can proceed with the claims further.
We also advise you to report this case to the police in your jurisdiction. If you are in the UK, you can do this using the Action Fraud website https://www.actionfraud.police.uk/reporting-fraud-and-cyber-crime/