Rangers FC Facing Turmoil as Guavapay Suspends Business Amid FCA Scrutiny

Multi-year kit deal in chaos after fintech partner suspends all UK activity.

It’s not been a great start to the season for Rangers on the pitch, and now they have been dealt a blow off it as official back-of-the-shirt sponsor Guavapay have suspended all UK business with immediate effect due to ongoing issues with the Financial Conduct Authority (FCA).

The shock news has left the Glasgow club scrambling to find a new Official Payment Processing Partner, just 10 months into their multi-year sponsorship.

In November 2024, Rangers announced their partnership with Guavapay which saw the company become official back-of-the-shirt sponsors and the official stadium payment processing partner - meaning that all of the Point of Sale systems around the stadium and at Edmiston House would use the MyGuava Business POS system.

But with the suspension, all POS systems at Ibrox are now redundant and with Saturday’s league cup clash with Hibernian fast approaching, Rangers will be scrambling to find a new POS system supplier in time.

So why did Guavapay halt Operations?

While there has been no explanation released by either Guavapay or the FCA, there are a number of industry-wide risks that frequently prompt such action:

• Regulatory Compliance Failures: The FCA can suspend firms for breaches such as inadequate anti-money laundering (AML) controls, failure to maintain “safeguarding” standards for customer funds, or insufficient capital buffers.

• Suspicion of Fraud or Financial Irregularities: Fintech firms are under constant scrutiny for any signs of unauthorised or fraudulent activity. The firm might have triggered red flags in reporting or operational processes.

• Operational or Systems Risk: Technical failures or recurring glitches in payment processing can prompt intervention if deemed a threat to customer interests.

• Failure to Meet Fit and Proper Standards: FCA may act if there is concern about the management’s suitability or integrity.

• Enforcement Actions or Investigations: Sometimes, ongoing enforcement procedures require immediate service suspension until regulatory concerns are resolved.

Regulatory interruptions of this kind are increasingly common as the fintech sector attracts closer FCA scrutiny. For Rangers and its fanbase, the shutdown once again demonstrates the perils of commercial deals with fast-evolving financial technology partners and yet the Ibrox side are no strangers to this.

Rangers’ Troubled Sponsorship Past

This latest setback is not without precedent for Rangers. They faced a similar blow back in May 2022, when another of their official back-of-the-shirt sponsors, Sportemon Go, a crypto NFT company went bust just one year into their partnership.

It left fans with jerseys featuring the defunct sponsor’s logo as they have now also. Back then, Rangers offered free cover-ups for the Sportemon Go branding until a new sponsor was announced - but unlike last time, Guavapay’s suspension has a wider impact due to their systems being used for all payment transactions in the stadium.

With the club languishing 10th in the Scottish Premiership after 5 games, 9 points behind league leaders and rivals Celtic, it is the last thing that the Rangers hierarchy needed.

Question marks must now be raised over the club’s continued commercial dealings with such a risky and volatile sector.

Millwall FC, who also used Guavapay, issued a notice to their supporters last night at 6pm via the club’s official website - at this time, Rangers have yet to notify their supporters. Many of whom, had to hear the news from the morning papers.