Market reaction: Why acquirers are buying existing UK EMIs/PSPs instead of applying — valuation and transaction playbook

In 2024 acquirers are increasingly buying authorised UK EMIs and PSPs rather than pursuing new FCA applications — securing immediate permissions, scarce bank and scheme relationships, and far lower regulatory execution risk. This article unpacks the market dynamics, valuation drivers and a practical transaction playbook for buyers and sellers navigating the UK payments M&A landscape.

In 2024 acquirers are increasingly buying authorised UK EMIs and PSPs rather than pursuing new FCA applications — securing immediate permissions, scarce bank and scheme relationships, and far lower regulatory execution risk. This article unpacks the market dynamics, valuation drivers and a practical transaction playbook for buyers and sellers navigating the UK payments M&A landscape.