By creating an account or using Payko, you agree to these Terms.
1. About Payko
Payko is a business payment facilitation platform that enables UK businesses to make payments using a credit card where the recipient accepts bank transfer.
Payko is a trading name of PP Systems Ltd, a company incorporated in England and Wales under company number 16919782. Our registered office is at 128 City Road, London, EC1V 2NX.
Payko does not provide credit, loans, banking services, or issue payment accounts. Users make payments using their own existing credit cards, subject to their card issuer's terms.
All payments initiated through Payko are powered by FCA-authorised payment infrastructure, which is responsible for card processing, settlement, and safeguarding of client funds in accordance with UK regulations.
2. Eligibility
To use Payko, you must:
- be a UK-registered business, sole trader or registered charity
- use a UK-issued Visa or Mastercard credit or debit card (American Express is not accepted)
- pay a recipient with a UK bank account (sort code and account number)
Payko does not support payments to international bank accounts.
Payko is not available to individuals or for personal payments.
Recipients of invoice payments must hold a UK business bank account. Payko does not support invoice payments to personal bank accounts or international bank accounts.
Certain industries and payment purposes cannot be supported under the rules of our payment partner and the card schemes. These include, without limitation, payments unrelated to the registered business, payments made on behalf of another person or business, and repayments of debt or credit. Payko may decline, suspend or reverse any payment or account that falls within a restricted category. The applicable restrictions are assessed during onboarding and on a per-payment basis, and may change from time to time.
3. Account registration
To use the service, you must create an account and provide accurate and complete information. You are responsible for keeping your login details secure, ensuring all information provided is correct, and maintaining up-to-date business and payment details.
4. Verification (KYC / KYB)
All users must complete business verification before making payments. This may include business and director verification and identity checks. Supporting documentation may be requested where required. Payko may suspend or refuse access if verification cannot be completed.
5. How payments work
When you make a payment: your credit card is charged for the payment amount plus applicable fees; funds are settled via our payment infrastructure; the recipient is paid by UK bank transfer after settlement.
Recipients are normally sent funds by bank transfer on the next working day after a card payment is made. Timing is typical rather than guaranteed: weekends, UK bank holidays and compliance checks can extend it. Payko does not guarantee same-day or next-day payouts.
The customer is solely responsible for the accuracy of beneficiary details provided. Payko performs format checks only and accepts no liability for payments executed to details supplied by the customer.
Payko reserves the right to decline any payment request without providing a reason. Invoice payments to non-UK business bank accounts are not permitted.
6. Fees
Payko charges a flat transaction fee of 4.9% per payment. There is no monthly subscription fee. The exact fee and total are shown at checkout before you confirm payment. All fees are non-refundable once a payment has been processed.
7. Client Notice: Protection of Funds
All payments made through Payko are processed by our appointed payment service provider, which is authorised and regulated by the Financial Conduct Authority (FCA).
Funds are held by our payment service provider in accordance with UK safeguarding regulations until they are paid out to your recipient. Payko never holds client funds at any point.
You can read the full Client Notice: Protection of Funds (PDF), which names our provider and sets out how funds are safeguarded. Our provider’s regulatory details are available on the FCA Register.
8. Card use & rewards
Both personal and business UK-issued Visa and Mastercard credit cards are accepted. You use your credit card in accordance with your card issuer's terms.
Any rewards, points, cashback, or Avios earned are generated through your credit card issuer and their rewards programme, not through Payko. Payko has no involvement in, control over, or responsibility for your card rewards. Eligibility for rewards and the rate at which they are earned is determined solely by your card provider.
The card used to make a payment must be registered to the account holder or to an authorised director or employee of the business making the payment. Cards registered to third parties may not be used.
9. Chargebacks & disputes
You are responsible for ensuring payments are legitimate and supported by appropriate documentation. In the event of a chargeback or dispute, liability rests with the paying business and you must provide requested documentation promptly. Where funds have already been sent to your recipient, you agree to reimburse the disputed amount, and Payko may recover it from you as a debt.
10. Refunds and disputes
Once funds have been dispatched to the recipient by UK bank transfer, Payko's obligations are fulfilled. Payko cannot reverse, recall, or refund a bank transfer once it has been sent.
If you believe a payment was made in error or wish to seek a refund, you must contact the recipient directly. Payko has no involvement in disputes between you and your recipient and is not liable for amounts paid to incorrect recipients due to details entered incorrectly by you.
If a recipient reports not having received a payment that Payko's records confirm was sent successfully to the account and reference provided, Payko will provide confirmation of the transfer (including date, amount, and reference) on request. Resolving any dispute about whether the recipient has received or correctly recorded the payment in their own accounts is a matter between you and the recipient, or between the recipient and their own bank, and is not Payko's responsibility.
In the event of a card chargeback, you agree to reimburse any amount charged back where the bank transfer to your recipient has already been sent, and Payko may recover that amount from you as a debt. Payko's service fee is non-refundable once a payment session has been initiated.
11. Compliance & safeguarding
Payko does not hold client funds. All payments are processed by FCA-authorised payment infrastructure, which is responsible for safeguarding client funds in segregated accounts in accordance with UK regulations.
12. Data protection
Payko processes personal data in accordance with UK GDPR and the Data Protection Act 2018. For details, see our Privacy Policy. Payko does not store card details.
13. Suspension & termination
Payko may suspend or terminate your account if you breach these Terms, required verification cannot be completed, or we detect fraud, misuse, or unlawful activity.
14. Limitation of liability
To the maximum extent permitted by law, Payko is not liable for indirect or consequential losses, delays caused by banks, card schemes, or third parties, or losses arising from incorrect information provided by you. Nothing in these Terms limits liability where unlawful to do so.
15. Changes to these Terms
We may update these Terms from time to time. Changes will be posted on this page and take effect when published.
16. Governing law
These Terms are governed by the laws of England and Wales. Any disputes shall be subject to the exclusive jurisdiction of the courts of England and Wales.
17. Contact
If you have questions about these Terms, contact us.