Sciopay is a web-based platform that enables brands to facilitate cross-border payments by providing access to a wide range of currencies and jurisdictions through a secure, FCA-regulated infrastructure. The platform allows businesses to manage customer relationships and payment processes efficiently, ensuring competitive foreign exchange rates and real-time transaction data without the need for complex API integrations.
Funding
Funding not disclosed
Founders
Product
Problem
Cross-border payment processes can be complex and costly for businesses, requiring them to navigate multiple currencies, jurisdictions, and regulatory frameworks. Managing customer relationships and payment processes efficiently across borders often necessitates complex API integrations and significant investment in implementation.
Solution
Sciopay offers a web-based platform that streamlines cross-border payments, providing businesses with access to a wide range of currencies and jurisdictions through a secure, FCA-regulated infrastructure. The platform enables businesses to manage customer relationships and payment processes efficiently, ensuring competitive foreign exchange rates and real-time transaction data. Sciopay's solution eliminates the need for complex API integrations, offering an out-of-the-box solution that can be launched within 24 hours. The platform, called sciohub, provides key data insights such as customer behaviors, revenue, and trade volumes, empowering businesses to manage customers effectively.
Target Audience
Sciopay primarily targets businesses that require efficient and secure cross-border payment solutions to manage international transactions and customer relationships.
Features
- Access to 34+ currencies and 149+ permitted jurisdictions for global transactions.
- sciohub provides a centralized platform to manage customers and sales channels.
- Real-time payment and conversion data with exportable reporting in multiple file types.
- Wholesale FX pricing to help customers save money on currency conversions.
- Permission control features to manage risk limits and access within the sciohub.
- Funds collection via local and named GBP and EUR settlement facilities, as well as SWIFT for 35+ currencies.
- SPOT and forward contracts (up to 24 months) across various currency pairs to manage market volatility.
- Transparency and control over SWIFT payments via MT103 and trace access, with local routing options for selected currencies.