Paystance is a multi-currency payment platform that offers business accounts, virtual and physical debit cards, and rapid international transfers through UKFP, BACS, Direct Debit, SEPA, and SWIFT. The platform enables businesses to manage cross-border payments efficiently in over 130 currencies, addressing the complexities and delays often associated with traditional banking systems.
Funding
Funding not disclosed
Founders
Product
Problem
Businesses face challenges in managing cross-border payments due to complexities, delays, and high costs associated with traditional banking systems. These inefficiencies hinder global expansion and create operational overhead for companies dealing with multiple currencies.
Solution
Pay iO offers a multi-currency payment platform designed to streamline international transactions for businesses. The platform provides business accounts in GBP and EUR, coupled with physical and virtual debit cards for seamless payments. Pay iO facilitates rapid, secure transfers in over 130 currencies through various channels, including UKFP, BACS, Direct Debit, SEPA, and SWIFT. By offering competitive corporate FX rates and a user-friendly interface, Pay iO enables businesses to efficiently manage global payments and reduce the friction associated with traditional banking. The platform also emphasizes client support, providing dedicated relationship managers and comprehensive assistance to ensure a smooth payment experience.
Target Audience
Pay iO primarily targets UK-registered businesses of all sizes that require efficient and cost-effective solutions for managing international payments and currency conversions.
Features
- Multi-currency business accounts available in GBP and EUR
- Physical and virtual debit cards for convenient spending
- Support for over 130 currencies with competitive FX rates
- Rapid, secure transfers via UKFP, BACS, Direct Debit, SEPA, and SWIFT
- Open Banking functionality with Pay by Link
- Multi-currency wallet for instant, secure transfers
- Quick and simple API integration for automated payments
- Robust security platform for safeguarding assets