Yes. All merchant float account funds are held at Clearbank (GBP) and LHV Bank (EUR). Once the money is loaded onto the cards, they are backed by Barclays Bank, and the card holders funds are protected by the UK Financial Conduct Authority and backed by the Central Bank of Europe up to 100,000 EUR/account. The regulation requires all client funds to be segregated and safeguarded.
Therefore your payout money is safe.