Modern Slavery Statement

Introduction

OpenPayd Holdings Limited and its relevant group companies (“OpenPayd” or “OpenPayd Group”) are committed to ensuring no slavery or human trafficking exists within OpenPayd or its supply chains. Modern slavery is a crime and a violation of fundamental human rights. It takes various forms, such as slavery, servitude, forced or compulsory labour and human trafficking, all of which have in common the deprivation of a person's liberty by another in order to exploit them for personal or commercial gain. OpenPayd will not support or trade with any business knowingly involved in modern slavery or human trafficking.

Structure of OpenPayd

OpenPayd is a leading global payments and banking-as-a-service platform for the digital economy. Through its API-driven technology, businesses can embed financial services into their products and create the seamless user experiences needed to drive business growth.

The OpenPayd Group has over 100 employees worldwide and operates in the UK and EEA.
For an overview of the OpenPayd Group please click here: https://www.openpayd.com/about-us/group-overview/

Regulated entities

The OpenPayd Group, across its subsidiaries, comprises four regulated entities:

SettleGo Solutions Limited (FRN: 900483) and Ozan Ltd (FRN: 900483) are both authorised by the Financial Conduct Authority in the United Kingdom under the Electronic Money Regulations 2011 for the issuance of electronic money and payment services.

OpenPayd Financial Services Malta Limited is authorised by the Malta Financial Services Authority under the Financial Institutions Act for the issuance of electronic money and payment services.

OpenPayd Canada Inc. (MSB registration number: M19528814) is a Money Service Business (MSB) registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

Our supply chains

Our supply chains predominately include banking partners and software suppliers. Therefore, we have assessed our risk of modern slavery within OpenPayd to be low. Nevertheless, we are committed to ensuring that no modern slavery exists in either our supply chains or business.

Our Policies

We are committed to ensuring that there is no modern slavery or human trafficking in our supply chains or in any part of our business:

  • We have a Whistleblowing Policy in place to ensure that our colleagues can report any concerns they have about our supply chains or other issues, without any reprisals.
  • We have a Recruitment Policy implemented to make sure that we perform various pre-employment checks to safeguard against human trafficking and modern slavery.
  • We also have a Code of Conduct in place, which demonstrates our commitment to conducting business that is both compliant with applicable laws and our company values.

Due diligence processes

As part of our initiative to identify and mitigate risk we conduct appropriate due diligence on all our customers and suppliers, to ensure that they are compliant with applicable laws and regulations.

Furthermore, we conduct transaction monitoring and sanction screening on our customer’s transactions, which enables us to flag any non-compliant transactions and safeguard against any activity which may be linked to modern slavery or human trafficking.

Training

All OpenPayd employees are required to read, understand and commit to follow our Code of Conduct and participate in mandatory compliance training.

Our effectiveness in combating slavery and human trafficking

No reports of modern slavery or human trafficking have been received from employees, the public, or any law enforcement agencies in the past financial year.

This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes the OpenPayd Group's slavery and human trafficking statement for the financial year ended 30th April 2021. It was approved by the board on 10th June 2021.

Signed by

Iana Dimitrova
Chief Executive Officer
OpenPayd 

10th June 2021

OpenPayd
©2021 OpenPayd Holdings Limited. All rights reserved. OpenPayd™ and OpenPayd® are trademarks of SettleGo Solutions Limited.

SettleGo Solutions Limited (trading as OpenPayd) is a company incorporated in England (company number 09570221) with registered address at The Bower, 207-211 Old Street, London, England, EC1V 9NR. OpenPayd is authorised by the Financial Conduct Authority in the United Kingdom under the Electronic Money Regulations 2011 (FRN: 900483) for the issuance of electronic money and payment services. OpenPayd is not a bank.

OpenPayd Financial Services Malta Limited is a company incorporated in Malta (company number C 75580) with registered address at Level -3, 137 Spinola Road, ST. Julians STJ 3011, Malta. OpenPayd Financial Services Malta Limited is authorised by the Malta Financial Services Authority under the Financial Institutions Act for the issuance of electronic money and payment services. OpenPayd Financial Services Malta Limited is not a bank.

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