PAYALLY STRENGTHENS INTERNATIONAL PAYMENTS OFFERING THROUGH NEW PARTNERSHIP WITH BANKING CIRCLE

Share this post

Innovative payments ecosystem provider set to cut cost and timescale of cross border payments and FX

PayAlly, the fully integrated payments ecosystem for SMEs is using Banking Circle solutions to improve its multi-currency B2B cross border payments services. In particular, the new partnership gives PayAlly access to a wider choice of payment rails through the Banking Circle super-correspondent banking network, thereby improving the speed and cost of international payments for its e-commerce customers.

With the aim of halving the cost of acquiring and payments for e-commerce SMEs, PayAlly delivers accounts, payments, prepaid cards, Foreign Exchange (FX) and factoring, alongside value-added solutions including supply chain Customer Management System, accounting and E-invoicing. Crucially with its focus on delivering a personal service for every customer, PayAlly aims to empower its customers through its services as Rafal Andzejevsky, PayAlly Co-Founder & CEO explained:

“At PayAlly we strive to help smaller businesses and individuals by providing them with quicker and more reliable payments. Working with Banking Circle, which offers us additional routes for international payments, we are able to improve our ability to execute B2B cross border payments in various currencies more quickly, efficiently and smoothly than we were previously able to do. As a result our clients can send and receive funds much faster and with less hassle and that is good news for their cashflow and profitability.”

London-based PayAlly serves over 1,000 corporate clients around the world and is now using Banking Circle to manage the cross border payments and FX requirements of these clients. Banking Circle enables local B2B payments and collections across borders and eliminates the need for a physical presence or a relationship with a correspondent bank in that region.

PayAlly can issue accounts to business customers, in multiple jurisdictions, giving them access to a reliable and fully flexible cross border payment system previously only accessible through larger banking institutions.

“With its mission to provide customer-centric solutions that break down barriers to international payments and increase SME financial inclusion, PayAlly’s ethos is very closely aligned to ours”, added Anders la Cour, co-founder and Chief Executive Officer at Banking Circle. “Working together, we can help PayAlly’s e-commerce clients expand internationally without the high cost and slow transfer fees that could otherwise hold them back.”

 

About Banking Circle

Banking Circle is a financial infrastructure provider to Payments businesses and Banks. As a fully licensed bank, free of legacy systems, Banking Circle technology enables payments companies and banks of any scale to seize opportunities in the new economy – quickly, at low cost and in line with high standards of compliance and security – with direct access to clearing that bypasses old, bureaucratic and expensive systems.

Banking Circle solutions are increasing financial inclusion. From accounts to lending, international payments to settlements and FX to compliance, Banking Circle technology is helping thousands of businesses transact across borders in a way that was previously not possible.

Banking Circle is owned by EQT VIII and EQT Ventures in partnership with Banking Circle’s founders. Headquartered in Luxembourg, Banking Circle has offices in London, Munich, Amsterdam and Copenhagen.

 

About PayAlly

PayAlly was founded in 2017 by a group of banking, payment processing and card acquiring professionals with the goal of helping small and medium-sized businesses and individuals with quicker and more reliable payments. As the world of finance is rushing into non-personal communication, PayAlly strives to remain personable and offer an exclusive solution. For the company, every client matters, regardless of size.

More To Explore

Membership

Merchant Community Membership

Are you a member of The Payments Association?

Member benefits include free tickets, discounts to more tickets, elevated brand visibility and more. Sign in to book tickets and find out more.

Welcome

Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.

Having trouble signing?

We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.

First things first

Have you set up your Member account yet? If not, click here to do so.

Still not receiving your auto-login link?

Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.

Please click the button below which relates to the issue you’re having.

I didn't receive an e-mail

Tip: Check your spam

Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association

Tip: Check “other” tabs

Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.

Tip: Click the link within 60 minutes

For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.

Tip: Only click once

The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.

Tip: Delete old login e-mails

Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.

Tip: Check your security policies

Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.

Need to change your e-mail address?

For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.

Still got a question?