Assessment
Modulr gives a business or a software platform its own payment accounts and moves money in and out by Faster Payments, Bacs, SEPA and cards, driven by API or by approvals in its portal. Use it when payroll, supplier runs or customer payouts are the job. It is not a bank, so balances are safeguarded e-money and fall outside the deposit guarantee scheme.
Modulr FS Limited is an FCA-authorised electronic money institution (firm reference 900573), and Modulr Finance B.V. is licensed by De Nederlandsche Bank. The group's 2025 accounts show turnover of ~$79M, up 14%, and an operating profit after a loss in 2024. It reports more than 6,000 business customers and launched in the US in January 2026 through FIS.
It fits a payroll bureau, an accounts-payable tool, a travel company or a lender that pays out at volume in sterling and euros. It is a weaker fit for a business that wants lending, interest on balances or a branch bank.
Rating by criterion
Each of the eight criteria below is scored out of 100.
Sector criteria
Sterling pay-ins arrive by Faster Payments and Bacs and pay-outs go by Faster Payments, euros move by SEPA and SEPA Instant, and CHAPS costs ~$24 extra. Other currencies go through Currencycloud at ~$4 a payment.
The API and sandbox are public, and the portal handles batch payroll, approval workflows and mobile approvals. Finance staff and engineers can work on the same accounts.
Modulr is an e-money institution in the UK and the Netherlands and a direct participant in Faster Payments with a Bank of England settlement account. If the buyer holds its own customers' money in Modulr accounts, it should explain safeguarding to them.
Modulr connects to accounting and payroll software, with partners that include Sage and FIS. As a founding shareholder of the UK Payments Initiative, it offers commercial Variable Recurring Payments.
Vendor criteria
Accounts-payable automation with AI invoice extraction, virtual company cards and payroll payments now sit on top of the payment accounts. The US launch is new, so US buyers should ask for live references.
Bundle plans can be bought online, while platform integrations go through sales. Check the account-opening checks for the business and for each of its own customers.
Bundle plans are published: Bronze is ~$40 a month with 80 payments, Silver ~$148 with 500 and Platinum ~$670 with 3,000, and extra payments cost ~$0.43 to ~$1.08. FX costs 0.5% to 1.2%.
Plan prices are monthly, but platform agreements are negotiated. Ask about notice periods and how accounts move if the platform leaves.
Against its peers
These are the other companies in payments and acquiring, with their ratings.
Fact file
| Regulators | FCA (e-money institution, firm reference 900573); De Nederlandsche Bank |
|---|---|
| 2025 turnover | ~$79M |
| Business customers | More than 6,000 |
| Annual payment value | More than ~$240 billion, according to Modulr |
| Plans | From ~$40 a month |
Competitive landscape
Payment-account and bank-infrastructure providers a business or platform would compare with Modulr.
Modulr: 77
- Modulr77
- Form376
- Yapily74
- Volt73
- ClearBankNot reviewed
- Banking CircleNot reviewed
- RailsrNot reviewed
Comparisons
Key leadership
Myles Stephenson founded Modulr in 2016 and is chief executive. Jakub Zmuda, who joined at the start as chief product officer, became managing director for Europe in July 2026.
How this review was created
This profile gives our own assessment of Modulr to companies selecting a Payments & acquiring provider. The Fintech Index receives nothing for featuring a firm, for sponsorship, or for advertising, and Modulr gave us no payment for the profile.
The rating equals the average of eight criteria, with every criterion running from 0 to 100. Four address buyer needs in this sector, and four address the company together with its commercial terms.
Ratings are our editorial judgment, made from public information: pricing and legal pages, product documentation, compliance disclosures, and filings. Fact-checking took place on October 21, 2026.