Paydek is a UK-based cross-border cross-currency money transfer company, supporting an array of clients such as small- to large-sized businesses and corporations, individuals, and online merchants.
They offer alternative solutions to traditional payment platforms or bank accounts and help to streamline global payouts, offering highly competitive FX rates and local payment rails.
As they were setting up new local payout rails and expanding partnerships on a global scale, Paydek needed assistance in helping its clients to process payments in local currencies.
They were looking for a partner that had access to even the hardest to reach, emerging economies, and who could offer payout capabilities; within a safe, reliable, simple, and secure infrastructure to support the higher volumes of payment transactions.
The partnership brought about a global collaboration, enabling Paydek to process 14 local currency transactions on behalf of their clients. The tie-up facilitated local currency payments with access through their robust technological capability and Thunes’ extensive global network, expanding the breadth, speed, and processing efficiency of Paydek services – all of which had become critical for business continuity.
Thunes enabled solutions that have helped Paydek’s business grow and increased their global coverage across Europe, Latin America, Africa, and Asia, and provided rich opportunities for SMBs to expand their market reach.
This solution gave their clientele the ability to manage cross-border payments with their dedicated multi-currency IBAN accounts. Customers had the flexibility to operate in 140 countries and be paid out in 90 different currencies, with the option to withdraw funds from their bank in their local currency or to their prepaid cards.