Yariex provides an all-in-one payment infrastructure for businesses needing fast, secure, and global money movement. The platform offers seamless cross-border insurance payouts and intelligent physical and virtual card issuance capabilities. Businesses leverage Yariex for real-time processing, transparent pricing, and regulatory compliance across 220+ countries.
Funding
Funding not disclosed
Founders
Product
Problem
Insurance companies face challenges in efficiently managing domestic and international payouts, including policyholder reimbursements and provider payments, often dealing with multiple systems and currencies. This can lead to delays, increased administrative overhead, and difficulties in reconciliation and compliance.
Solution
Yariex Pay offers a payment platform designed to streamline insurance payouts through a single API, facilitating real-time, borderless transactions in multiple currencies. The platform enables efficient management of domestic and international payments, including policyholder reimbursements, claim payments, and scheduled batch processing. It provides features such as real-time transaction tracking, compliance with SOC2 and Canada/US regulations, and transparent pricing with competitive FX rates. Yariex Pay also simplifies payment reconciliation by linking transactions to specific claims using provider and policyholder IDs, reducing administrative burdens and ensuring accurate tracking.
Target Audience
Yariex Pay targets insurance companies seeking to streamline their payment processes, reduce administrative overhead, and improve the speed and transparency of payouts to policyholders and service providers.
Features
- Single API for managing domestic, international, and multi-currency payouts
- Real-time transaction tracking with instant notifications
- Support for various payment methods including Interac e-Transfer, EFT, Visa Direct, Mastercard Send, ACH, FedNow, and RTP
- Automated reconciliation by linking transactions to specific claims using provider and policyholder IDs
- Compliance with SOC2 and Canada/US regulations, including advanced bank account verification
- Transparent pricing with low transaction fees and competitive FX rates
- Sandbox environment for developers to test integrations
- Communication platform to update payers and payees on transaction statuses