Safeguarding of Customer Funds Statement
Last Updated: 11th August 2026
1. How TWPayz Protects Customer Funds
TWPayz is the trading name used by two separate regulated entities: Transactworld Limited in the United Kingdom and Payment Infosys Limited in Mauritius.
The arrangements for protecting customer funds differ between the two entities, reflecting their respective regulatory status, the services they provide and their roles in relation to customer funds. Each entity is separately responsible for maintaining appropriate customer-fund protection arrangements and complying with the legal and regulatory requirements applicable to its activities.
This Statement explains, in general terms, how customer funds are protected when using services provided by either entity.
2. Transactworld Limited
Transactworld Limited is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. It is authorised to issue electronic money and provide payment services.
Where Transactworld Limited receives funds that are required to be safeguarded in connection with the issuance of electronic money or the provision of payment services, those funds are safeguarded separately from Transactworld Limited’s own money in accordance with applicable UK safeguarding requirements.
In practical terms, this means that safeguarded customer funds:
Are kept separate from Transactworld Limited’s own operational funds
Are held through designated safeguarding arrangements with eligible financial institutions
Cannot be used by Transactworld Limited to fund its own business, be lent to other persons or otherwise be used for its own purposes
Do not earn interest
Transactworld Limited maintains appropriate records, reconciliation processes and oversight arrangements designed to ensure that the amount of customer funds requiring safeguarding is properly identified and protected.
3. Safeguarding Is Different from a Bank Deposit
A Transactworld Limited Account is an electronic money account, not a bank deposit account.
Funds corresponding to electronic money are therefore not protected in the same way as money deposited directly with a bank and are not covered by the Financial Services Compensation Scheme (“FSCS”) as bank deposits.
Instead, customer funds are protected through the statutory safeguarding arrangements that apply to electronic money institutions.
Where Transactworld Limited uses a bank or other financial institution to provide IBANs or safeguarding infrastructure, this does not mean that the customer holds a bank account directly with that institution.
4. What Happens if Transactworld Limited Becomes Insolvent
Safeguarding is designed to protect customer funds if Transactworld Limited becomes insolvent.
Because safeguarded funds are kept separate from Transactworld Limited’s own money, they are intended to be available for return to customers ahead of claims by Transactworld Limited’s general creditors, subject to the applicable safeguarding and insolvency rules.
Safeguarding does not mean that funds can necessarily be returned immediately if an insolvency occurs. An insolvency process may still be required before funds are returned.
5. Payment Infosys Limited
Payment Infosys Limited is licensed by the Financial Services Commission of Mauritius as a Payment Intermediary under the Financial Services Act 2007.
Its role is different from that of Transactworld Limited.
A Payment Infosys Account is a technical account used to facilitate payment transactions. It is not a bank deposit account or an electronic money account, and Payment Infosys does not issue electronic money.
Payment Infosys works with licensed banks and other regulated financial institutions that are involved in the holding, protection and settlement of customer funds.
6. How Funds Are Handled for Payment Infosys Customers
Customer funds connected with Payment Infosys services are processed through arrangements with licensed partner financial institutions responsible for the relevant holding, protection or settlement of those funds.
Depending on the service and arrangement, customer funds may be held in pooled client accounts maintained with licensed financial institutions in Mauritius. Such accounts may be held in Payment Infosys’s name for the benefit of its clients and are used for processing and settling payment transactions.
Payment instructions submitted through the TWPayz platform may therefore be executed and settled through the relevant partner bank or financial institution, with Payment Infosys providing the relevant payment instruction as part of the service.
Where pooled client accounts are used, customer funds are held together within a client account structure maintained with a licensed financial institution rather than in a separate individual bank account opened in each customer’s name.
These accounts are used for the processing and settlement of payment transactions and are not intended to operate as ordinary savings, deposit or current accounts.
The balance displayed through the TWPayz platform therefore represents the amount available in connection with the relevant payment services and does not, by itself, mean that the customer has a direct bank deposit with Payment Infosys or its banking partner.
7. What Happens if Payment Infosys Limited Becomes Insolvent
If Payment Infosys becomes insolvent, the treatment and return of customer funds will depend on the applicable Mauritius legal and regulatory requirements, the terms and structure of the relevant client-account and banking arrangements, and the applicable insolvency process.
8. No Automatic Banking Relationship with Partner Institutions
Both TWPayz entities may work with banks and other licensed financial institutions in connection with their respective services, including for account identifiers, payment infrastructure, safeguarding, holding or settlement, as applicable.
The use of a partner institution does not, by itself, mean that the customer has a bank account or other direct banking relationship with that institution. The nature of the arrangement depends on the TWPayz entity providing the service and the role of the relevant partner institution.
9. The Key Difference Between TWPayz Entities
The most important distinction is simple:
Transactworld Limited is an FCA-authorised Electronic Money Institution. It issues electronic money and is itself responsible for safeguarding relevant customer funds under the UK safeguarding framework.
Payment Infosys Limited is an FSC-licensed Payment Intermediary. It does not issue electronic money and facilitates payment services through arrangements involving licensed banks and other financial institutions responsible for the relevant holding, protection or settlement of customer funds.
The fact that both entities operate under the TWPayz name does not mean that the same safeguarding rules or customer-fund arrangements apply to both.
10. Use of Customer Funds
Customer funds subject to safeguarding or client-fund protection arrangements are kept or handled in accordance with the requirements applicable to the relevant TWPayz entity and are not treated as funds available for the general financing of its business.
For Transactworld Limited, safeguarded funds cannot be used for its own purposes or lent to other persons.
For Payment Infosys, pooled client accounts described in the Terms are maintained for the benefit of clients and for processing and settling payment transactions.
11. Oversight and Review
Each TWPayz entity maintains arrangements appropriate to its role in relation to customer funds and the legal and regulatory requirements applying to its activities.
These arrangements may include controls relating to:
Safeguarding or client-fund accounts
Banking and settlement partners
Records and reconciliation
Monitoring of customer balances and transactions
Due diligence and oversight of relationships with relevant financial institutions and partners
Identification and resolution of discrepancies
Regulatory reporting or audit where required
Each entity reviews its customer-fund protection arrangements periodically and updates them where appropriate to reflect changes in applicable requirements, services, banking arrangements and relevant risks.
12. Further Information
Customers should refer to the Terms of Use and other service documentation applicable to the TWPayz entity providing their services for more detailed information about the treatment of funds.
For questions regarding this Statement:
Email (UK): legal@twpayz.com
Email (Mauritius): legal_mru@twpayz.com
For general account or service enquiries:
Email (UK): support@twpayz.com
Email (Mauritius): support_mu@twpayz.com