Pay Set Limited: FCA regulated?

Authorised by the FCA

This firm is on the FCA register and authorised to carry out regulated activities.

Authorised for 6 years
Your funds are safeguarded
No FCA actions
Active company since 2018
Accounts filed up to 31 December 2024

Website, phone number and address

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

Website

payset.io (opens in a new tab)
Phone number

0808 531 0277
Address

Pay Set Limited, 9th Floor, 9 Appold Street, London, EC2A 2AP, United Kingdom

In the full report: 3 background checks

When payset.io first appeared online, and whether it can receive email
What kind of line 0808 531 0277 is
Who else gives the postcode EC2A 2AP

FCA permissions and consumer protection

Handle payments & transfers Funds safeguarded
Your money must be kept in a separate safeguarded account. If the firm fails, all safeguarded funds should be returned to you. With no upper limit, unlike the capped amounts under FSCS. Safeguarding works differently from FSCS, but protects your full balance when the rules are followed correctly.
Complaints Ombudsman, free
You can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.

Show FCA detail (7 permissions)

a) Services enabling cash placement on a payment account
b) Services enabling cash withdrawals from a payment account
c) Execution of payment transactions (not covered by a credit line)
d) Execution of payment transactions (covered by a credit line)
e) Issuing payment instruments or acquiring payment transactions
f) Money remittance
h) Issuing Electronic Money

FCA disciplinary action and complaints

No FCA disciplinary action.

The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.

Companies House record

The company behind the firm: its status, age, registered office and directors.

Company number: 11529161 (opens Companies House in a new tab)
Company status: Active
Company type: Private limited company
Incorporated: 21 August 2018 (8 years old)
Registered office: 23 Berkeley Square, London, W1J 6HE, United Kingdom
Nature of business: Financial intermediation not elsewhere classified (SIC 64999)
Other professional, scientific and technical activities not elsewhere classified (SIC 74909)

Directors and company secretaries

Name	Role	Born	Appointed	Other companies
Perry Ernest Asforis	Director	May 1964	21 Aug 2018	3 other companies
Adam Mark Mackulin	Director	Jan 1984	13 Sep 2018	1 other company

Other companies run by these 2 directors

A firm is run by people, and their other companies are their track record: what they built, what closed, and anything that failed. It is the check most people never think to make.

other companies: 3
still active: 3
is FCA-registered: 1

In the full report: all 3 companies, named

What each company does, and whether it is still trading
Which of these 2 directors sit on each board, and since when
Any that went into liquidation or administration
The one on the FCA register, including one no longer authorised
The 1 company these 2 directors run together

Filed accounts and finances

Year to 31 December 2024Full accountsAudited

Turnover

£5.73m

Not compared: the previous accounts cover a different length of time

Profit before tax

£232k

−68% from £720k

Net assets

£1.56m

No earlier figure to compare

Cash at bank

£21.5m

−41% from £36.2m

* Cash at bank usually includes customers’ money.

Profit before tax

In the full report: all 6 years of accounts

Every year from 2019 to 2024
Both charts, over every year
Every filed figure, year by year

About these figures

Turnover: Money taken from sales in the year, before any costs.
Profit before tax: What was left after the year’s costs, before corporation tax. A minus figure is a loss.
Net assets, or total equity: Everything the company owns minus everything it owes. A minus figure means it owes more than it owns.
Total assets and total liabilities: Everything the company owns, and everything it owes, on the last day of the year. The gap between them is its net assets.
Cash at bank: Money in the company’s accounts on the last day of the year.
Owed within a year, owed after a year: Debts and bills due in the next twelve months, and those due later.

Accounts filed at Companies House for company 11529161. Every figure is as filed, apart from total assets and total liabilities, which are added up from filed figures. Nothing is estimated.

Key dates in its history

Pay Set’s history from the FCA register and Companies House, newest first.

2020

30 June 2020

Regulated by the FCA from this date
Became an authorised e-money institution

FCA register

2018

13 September 2018

Adam Mark Mackulin appointed as a director

Companies House

21 August 2018

Incorporated at Companies House
Capitalium Limited took control (75–100% of shares)
Perry Ernest Asforis appointed as a director

Companies House

Director appointments and resignations, and trading names, appear under All events.

Firms connected to Pay Set

Other FCA-listed firms that share a director, phone number or address with Pay Set. A link shows who the firm is tied to, not whether either can be trusted.

past link: 1

In the full report: all 0 connected firms, named

1 past link through former directors

Firms like Pay Set

Other firms of the same type (payment or money transfer firm), nearest first.

In London

Uber Payments UK LimitedLondonAuthorised Wise Payments LimitedLondonAuthorised Forisgfs UK LimitedLondonAuthorised Wepay Payments Ltd.LondonAuthorised Airbnb Payments UK LimitedLondonAuthorised Mollie UK Ltd.LondonAuthorised

Firms are listed by type and location, best known first. Being listed is not a recommendation: check any firm before you deal with it.

Get the full report on Pay Set

Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.

3 other companies its directors have run, named
3 background checks on its contact details
6 years of accounts, charted
All 6 events in its history

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Frequently asked questions about this firm

Is Pay Set Limited FCA authorised?

Yes, Pay Set Limited (FRN 900920) is authorised by the FCA to carry out regulated activities. It has held its current authorisation since June 2020 and works as a payment or money transfer firm. The FCA has placed no limits on its permissions.

What is Pay Set’s phone number and website?

The FCA register lists the phone number 0808 531 0277 and the website payset.io for Pay Set. If you were given different contact details, use these to check with the firm before going any further.

Is Pay Set a scam or clone?

Pay Set is a genuine FCA-listed firm, and the FCA has published no warnings about fake versions of it. Scammers do copy real firms, though, so check that any contact details you were given match the ones on the register.

Is my money safe with Pay Set?

It depends on the product, but payment and e-money balances should be safeguarded in a separate account, with no upper limit on the protected amount. You can also refer complaints about Pay Set to the Financial Ombudsman Service, free of charge.

Who owns Pay Set?

Pay Set is owned by Capitalium Limited, which holds 75–100% of shares, 75–100% of votes and can appoint and remove the board, since 21 August 2018.

Who runs Pay Set?

Companies House lists 2 directors of Pay Set: Perry Ernest Asforis and Adam Mark Mackulin.

How long has Pay Set been in business?

The company was formed on 21 August 2018, and has held its current FCA authorisation since June 2020.

What do Pay Set’s latest accounts show?

Its latest accounts, to 31 December 2024, show turnover of £5.73m (not compared: the previous accounts cover a different length of time) and profit before tax of £232k (−68% from £720k).