Vinted Pay, the dedicated payments business of secondhand marketplace Vinted, has received an Electronic Money Institution (EMI) licence from the UK Financial Conduct Authority (FCA).
According to the official press release, the licence authorises Vinted Pay to issue electronic money and provide payment services in the UK, extending its in-house payment infrastructure beyond its existing European operations.
Vinted Pay launched in 2023 following the receipt of an EMI licence from the Bank of Lithuania. The business was established to address the specific payment needs of Vinted's marketplace members and improve operational efficiency by reducing reliance on third-party payment providers, while continuing to work with external payment service providers to support secure transactions.
Wallet services and member functionality
Vinted Pay currently provides wallet services to members across multiple European countries. Under the model, funds from a completed sale are transferred to the seller's Vinted Pay wallet balance, from which they can be used to make purchases on the platform or withdrawn to a bank account. The UK licence will enable Vinted Pay to begin offering equivalent wallet services to UK members, with the company indicating that members will receive further information ahead of the UK wallet launch.
Furthermore, the FCA authorisation reflects a broader trend among marketplace platforms seeking to internalise payment infrastructure to gain greater control over the end-to-end transaction experience, improve margins, and tailor financial services functionality to their specific user base. For Vinted, which operates one of Europe's largest peer-to-peer secondhand clothing platforms, in-house payment capabilities support the trust and settlement mechanics that are central to marketplace commerce.
Commenting on the news, Modestas Tursa, VP of Payments at Vinted, said the FCA authorisation is an important step for Vinted Pay in the UK, strengthening the company's ability to support members with secure and reliable payment and wallet services.
Recently, AMLYZE also joined Vinted Pay in a strategic collaboration focused on expanding payment infrastructure. Through this partnership, Vinted, as it worked to scale the use of Vinted Pay across its markets, was set to leverage AMLYZE's technology for a compliant and safe rollout.
