PayCommerce

remittancessoftware/whitelabel/apis-remittancenetwork settlement

FOUNDING YEAR: 2007
LOCATION: United States
Last Update: 18/10/2019

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About

PayCommerce is the leading open cross-border payments network that enables both disbursements and acceptance transactions through a single point of connectivity for its members. PayCommerce provides Software-as-a-Service for enterprise payments and remittance to optimize working capital and reduce costs. The PayCommerce Network leverages its proprietary Federated LedgerTM to enable real-time, instant payments, clearing and settlement integration for its banking consortium.The Federated LedgerTM is a hybrid, integrating both distributed and centralized ledgers which enable faster payments across networks via its messaging platform.

Focus

PRODUCTS & SERVICES

Payment software platform for cross-border payments networks to global banks, large enterprises and financial institutions.

REVENUE MODEL

The company earns revenues through commission fees.

MAIN CLIENTS

PayCommerce enterprise customers include seven of the top global banks

11 of the top 50 US banks

14 global Fortune 500® firms and eight US Fortune 500 companies.

EXISTING PARTNERSHIPS

Swift Service Bureau

COMMENT

The company provides lower transaction costs, access to instant real-time payments, acceptance and FX rates and increased efficiency and transparency, as well as management of risk and regional compliance, all on a single platform.

Traction

NUMBER OF TRANSACTIONS:

200 M

TRANSACTIONS VALUE:

$400 B

TRANSACTIONS COMMENT:

2016

People

BOARD MEMBERS AND ADVISORS

Leighton Yohannan

Abdul Naushad

NUMBER OF EMPLOYEES

101-250

INVESTORS:

Tritium Partners

Momentum

FUNDED

YES

TOTAL FUNDING

$22 M

DATE OF LAST FUNDING

Sep 2016

FUNDING SERIES

SERIES B  · $22 M  · ---

LISTED

NO

BASICS

FOUNDING YEAR:

2007

LOCATION:

United States

Views:

161 VISITORS | 300 VIEWS
LATEST FUNDING ROUND

$22 M

TOTAL EMPLOYEES
101-250

About

PayCommerce is the leading open cross-border payments network that enables both disbursements and acceptance transactions through a single point of connectivity for its members. PayCommerce provides Software-as-a-Service for enterprise payments and remittance to optimize working capital and reduce costs. The PayCommerce Network leverages its proprietary Federated LedgerTM to enable real-time, instant payments, clearing and settlement integration for its banking consortium.The Federated LedgerTM is a hybrid, integrating both distributed and centralized ledgers which enable faster payments across networks via its messaging platform.

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