Modulr

Modulr is a London payments company founded in 2015 that gives businesses and software platforms accounts and payment flows they can run through an API. Modulr FS Limited is authorised by the Financial Conduct Authority as an electronic money institution (FRN 900573), and Modulr Finance B.V. holds a Dutch e-money licence from De Nederlandsche Bank (relationship number R182870) for clients in the European Economic Area. An Irish licence granted in 2020 was handed back at the end of 2022, when the Irish business was merged into the Dutch one; an Irish branch remains.

Modulr joined CHAPS as a direct participant in August 2026. It was already a direct member of Faster Payments and Bacs, and says this makes it the only non-bank payment provider connected directly to all three. In euros it sends and receives SEPA credit transfers and SEPA Instant payments. Collection tools include Bacs Direct Debit, Pay by Bank and variable recurring payments over open banking, and SWIFT receipts cover currencies such as US dollars, Swiss francs, zloty and yen. It also issues virtual and physical cards, but it is not a card acquirer.

The company reports more than 6,000 business customers, over 11 million active accounts and about £180 billion a year in payment value. Lenders, payroll and accounts-payable software, travel firms, wealth platforms and accountants are typical users. Smaller businesses can pick a published plan: payroll payments start at £16.25 a month for 35 payments, with extra payments at 80p each and CHAPS at £17.50. Platform and enterprise pricing is quoted.

Modulr fits firms that need to move sterling and euros in volume and under software control. International payments in other currencies, and the FX behind them, are supplied by Currencycloud.