We are pleased to announce that we have been accepted into cohort 5 of the FCA Regulatory Sandbox to further test our innovative solution for financial institutions and their small business clients.
The FCA received the largest number of applications to date from firms operating in the UK and overseas.
Tests will be conducted on a short-term and small-scale basis. The FCA works closely with each firm to agree on testing parameters and build in appropriate consumer safeguards.
You can find more information on the regulatory sandbox, and see the full list of participants here.
About tomato pay (formerly known as Fractal):
tomato pay is a simple, QR-code based payments and invoice app powered by Open Banking and built on our tomato pay API platform which offers both AIS and PIS capabilities.
Businesses and sole traders can benefit from our low-cost QR-code payments solution with no hidden fees, which saves them money compared to their current payment systems, gives them instant access to their money as cash settlement happens almost immediately, and access to all of their bank accounts in one place.
For comment, please contact us at press@askfractal.com.