User:Thesecondcoal/Payset
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| Company type | Private Limited Company |
|---|---|
| Industry | Financial services, payments, electronic money. |
| Founded | 2018 |
| Founders |
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| Headquarters | 9 Appold Street, , |
Number of locations | 5 |
Area served | United Kingdom, global (subject to local regulations) |
| Services | Multi-currency accounts, currency exchange |
Number of employees | 64[1] |
| Website | www |
Payset, also known as Pay Set Limited, is a fintech company headquartered in the City of London. Founded in August 2018 by Rudi Reager and Ophir Gertner, the company provides a variety of payment solutions, including multi-currency IBAN accounts and international money transfers.[2]
History
[edit]Payset was established in August 2018 as a financial intermediation startup by Rudi Reager and Ophir Gertner.[3] Initially based in Borehamwood, Hertfordshire, the company has since expanded its operations to serve a global client base.
In June 2021, three years after its founding, Payset launched its services to corporate clients, and it now serves thousands of both corporate and individual clients worldwide.
Products and services
[edit]- Multi-Currency Accounts – Payset offers dedicated multi-currency accounts with International Bank Account Numbers (IBANs). These accounts allow clients to hold and manage funds in 34 different currencies.[4]
- Currency Conversion – Payset provides real-time online currency exchange services, allowing clients to convert up to 38 different currencies.
- Payment Solutions – The platform supports various payment networks, including SWIFT, SEPA, and Faster Payments.
Market position
[edit]Payset has positioned itself as a leading player in the UK electronic money market, ranking first among electronic money institutions in the UK and second at the European level.[5] The company is recognised for its innovative payment solutions and commitment to transparency. Founders Reager and Gertner identified inefficiencies in traditional banking, such as slow processes and limited functionality, which they sought to address through advanced technology and strategic partnerships.[6]
Technology and partnerships
[edit]Payset leverages advanced technology from partners like iDenfy[7], Banking Circle[8], ClearBank[9], Thought Machine[10], to improve its services. These collaborations have enabled Payset to provide more efficient and cost-effective solutions for its clients.
Regulatory status
[edit]In June 2020, Pay Set Limited was authorised by the Financial Conduct Authority (FCA) as an Electronic Money Institution. This authorisation allows the company to offer payment services, multi-currency accounts, and currency exchange, ensuring full compliance with regulatory standards.[11]
References
[edit]- ^ "Five questions with Payset Co-Founder Rudi Reager". Hashnode. 2023-04-25.
- ^ "Opening an account in PaySet payment system (UK)". Azola. Retrieved 2 September 2024.
- ^ "PAY SET LIMITED Overview". GOV.UK. Retrieved 2 September 2024.
- ^ "Pricing". PaySet. Retrieved 2 September 2024.
- ^ "Leading EMIs in Europe 2023: Navigating the Dynamic Fintech Landscape". Satchel. 31 August 2023.
- ^ "Five questions with Payset Co-Founder Rudi Reager". Hashnode. 25 April 2023.
- ^ "iDenfy Partners with Payset to Secure Customer Onboarding with Full-stack Identity Verification". Fintech Finance News. 17 August 2022.
- ^ "Payset Selects Banking Circle for Fast Low-cost Global Payments". Fintech Finance News. 29 June 2022.
- ^ "Payset Partners With ClearBank". Fintech Finance News. 12 July 2024.
- ^ "Payset selects Thought Machine to bring next-generation financial services to UK and European markets". Fintech Finance News. 24 November 2022.
- ^ "Pay Set Limited". The Financial Services Register. Retrieved 2 September 2024.