AMLG2700 | Sector Specific Guidance: Bill Payment Service Providers

Appendix 1 - Bill Payment Service Providers (BPSPs)

Who is this Appendix for:

The following applies to BPSPs under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the Regulations.)

BPSP Definition:

A BPSP, as defined in the Regulations, means: “an undertaking which provides a payment service enabling the payment of utility and other household bills.”

Exclusions:

A BPSP may not be required to register for supervision if they engage in this activity on an occasional or very limited basis.

If your business offers BPSP services as an ancillary to another MLR regulated service, you should include BPSP services in your registration information or application.

Who is a BPSP?

A Bill Payment Service Provider provides a payment service for utility and other household bills and acts on behalf of the payer. This includes bills for:

• Gas and electricity

• Water rates and sewage charges

• Council tax payments

• Household insurance

You’re not a bill payment service provider if you receive a payment on behalf of the payee (the utility company) so that your receipt constitutes settlement of the payer’s debt to the payee.