Vyne announces UK exit to focus on global strategy

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London-based payments platform Vyne has announced it is closing down its UK operations to focus on other global markets. 

Vyne will cease all operations on 22 April 2025. However, the firm asserts it remains ‘fully committed to providing uninterrupted service to all merchants and partners’ until this date. 

The company has invited stakeholders to reach out if they have questions or require any assistance, adding that it is here to assist its customers during this transition and facilitate a smooth handover of their payment needs.

As noted above, the fintech has attributed this decision to a broader global strategy adopted by its new shareholders. This refers to the Middle Eastern company Tarabut, which acquired Vyne last September. 

At the time of this acquisition, the plan was to integrate Vyne’s A2A payments technology into Tarabut’s own operations across the Middle East. Bahrain was selected to be the pilot market for this project, followed by Saudi Arabia and the UAE

Open Banking adoption in the Middle East has grown significantly over recent years, alongside an equally booming fintech market. 

Markets like the UK and Nordics are well established in Open Banking, but emerging sectors in the Middle East have yet to see dominant players in this space – Vyne may be positioning itself to fill that gap and become a key leader in the region.

“As part of a broader global strategy adopted by our new shareholders, we have made the decision to wind down operations at Vyne in the UK effective 22 April 2025,” Vyne’s blog post read.

“This decision reflects the Board’s strategic plan to focus on markets where Vyne’s technology can drive the most impact and growth, globally. While the UK market is not part of these current plans, this marks a significant opportunity and exciting chapter for Vyne’s proven technology to be leveraged in other key jurisdictions.”

In a final message to its merchants and partners, the company acknowledged the support it has received over the years. 

Vyne concluded: “To all our merchants and partners: Thank you for trusting us with your business. Your partnership has been the cornerstone of our operations, and we are deeply grateful for the opportunity to serve you.”