ePayments Systems Limited entered special administration on 15 October 2026, the Financial Conduct Authority said. Mark Boast and Allister Manson of Opus Restructuring LLP were appointed joint special administrators. The FCA says the Financial Services Compensation Scheme does not cover payment services.
TL;DR · LAST REVIEWED ePayments Systems Limited entered special administration on 15 October 2026, the Financial Conduct Authority said. Mark Boast and Allister Manson of Opus Restructuring LLP were appointed joint special administrators. The FCA says the Financial Services Compensation Scheme does not cover payment services.
- The FCA said ePayments Systems Limited entered special administration on 15 October 2026.
- Mark Boast and Allister Manson of Opus Restructuring LLP were appointed joint special administrators, described by the FCA as officers of the court.
- The FCA said the firm remains authorised to issue electronic money and subject to FCA rules during the special administration.
- The FCA said the Financial Services Compensation Scheme does not cover payment services.
KEY FACTS
- Firm: ePayments Systems Limited (EPS), an FCA-authorised e-money issuer
- Date: Entered special administration on 15 October 2026
- Administrators: Mark Boast and Allister Manson, Opus Restructuring LLP
- FSCS: Does not cover payment services
- Contact: epayments@opusllp.com
What has happened
The Financial Conduct Authority said ePayments Systems Limited entered special administration on 15 October 2026. The FCA said Mark Boast and Allister Manson of Opus Restructuring LLP were appointed as joint special administrators. The FCA describes the joint special administrators as officers of the court. The appointment places the firm under a regime the FCA says is designed for the return of customer funds.
The FCA said ePayments Systems Limited is authorised by the FCA to issue electronic money under the Electronic Money Regulations 2011. The FCA said the firm remains FCA authorised and subject to FCA rules during the special administration. The FCA said it will work with the administrators to seek the best outcome for customers. The FCA said the administrators will assess all the funds the firm holds.
What happens to customer money
The FCA said the firm was required to safeguard customer money by holding it separately from its own funds. The FCA said that under the special administration regime the administrators manage customer claims. The FCA said the aim is to return customer funds as soon as reasonably practicable.
The FCA said the Financial Services Compensation Scheme does not cover payment services. The FCA said the administrators will gather information and explain how to make a claim in due course.
What customers should do
The FCA said customers can contact the administrators at epayments@opusllp.com or through the Opus web page for ePayments in special administration.
The FCA said the Consumer Helpline is available for more information.
Scams and claims firms
The FCA warned customers to be cautious of firms offering to recover their money for them. The FCA said most clients gain nothing by using a third party. The FCA also warned of scams. The FCA said anyone unexpectedly contacted by someone claiming to be from EPS, Opus or the FCA should end the call and get in touch through verified contact details.
Source: FCA: ePayments Systems Limited enters special administration.
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RELATED GUIDES
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DISCLAIMER
This article reports an FCA announcement. It is general information, not financial or legal advice.
Frequently asked questions
When did ePayments Systems Limited enter special administration?
The FCA said ePayments Systems Limited entered special administration on 15 October 2026.
Who were appointed as joint special administrators?
The FCA said Mark Boast and Allister Manson of Opus Restructuring LLP were appointed as joint special administrators, and the FCA describes them as officers of the court.
Is ePayments Systems Limited still authorised by the FCA?
The FCA said the firm is authorised by the FCA to issue electronic money under the Electronic Money Regulations 2011, and it remains FCA authorised and subject to FCA rules during the special administration.
What happens to customer money held by the firm?
The FCA said the firm was required to safeguard customer money by holding it separately from its own funds, and the administrators will assess all the funds the firm holds.
How will customer claims be handled?
The FCA said that under the special administration regime the administrators manage customer claims, with the aim of returning customer funds as soon as reasonably practicable.
SOURCES
- FCA: ePayments Systems Limited enters special administration (15 October 2026) - accessed 16 October 2026
