Payset prespective
March 30, 2023

A Special Sneak Peek of the New Payset Platform!

Over the coming months, Payset will be launching a completely new platform with advanced features, new services, better security, faster transactions, and more. Today we wanted to give our blog readers a special preview of the new Payset!

A completely new user interface
Improved permissions management
Easy-to-organize beneficiaries
Multi-signature access
Better tracking of transaction statuses
Smoother currency exchange
Higher security
Easy report creation

New Interface

The user interface is getting a complete redesign for mobile and desktop. It's sleeker, faster, and more user-friendly.

Permissions Management

Add multiple members of your company to your account and easily manage their permissions.

Easily Organize Beneficiaries

Pay online or in-person at millions of merchants worldwide. Our new debit cards will be accepted wherever major credit cards are accepted.

Manage Multi-Signature Access

Easily add user rules and set multi-signature access parameters.

Track Your Transaction Status

Easily track all your transactions in 38 currencies from a single dashboard.

Currency Exchange

Exchange between 34 currencies from a single, more streamlined, smoother dashboard.

Higher Security

Set SMS notifications on particular account activities and set up 2FA to increase security.

Easy Report Creation

Easily generate and download custom account statements.

If you'd like more information about the new platform or about what Payset can do for your business, you can book a free demo with one of our experts and ask us anything!

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Frequently asked questions

What is a multi-currency account/virtual IBAN?

A Payset multi-currency account allows you to receive money in 34 different currencies and send money in up to 38 currencies, all within the same account.

You can deposit and withdraw funds, convert currencies at competitive exchange rates, and hold your chosen currencies to capitalize on market movements.

A Payset multi-currency account allows startups and business owners to receive payments from clients virtually anywhere in the world and pay suppliers, staff, and contractors quickly and affordably in their chosen currency.

  • Funds can be deposited and withdrawn from the account for a small fee.
  • Account holders can send and receive money with other Payset users for free.
  • Depending on your region, you can use various payment networks from your Payset account, including SWIFT, SEPA, ACH, Fedwire, Faster Payments, BACS, and CHAPS. 
  • Once you register an account, you will be provided with a Virtual IBAN (International Bank Account Number), which makes all of these transfers easy.
  • We provide you with local payments and collections. For example, transactions in USD, EUR, CAD, and GBP are processed through the local payment networks, which is far cheaper and takes minutes as opposed to days

Are there limits on the amount of money I can send and receive?

No, there are no transaction limits on Payset multi-currency accounts.

However, higher-volume transactions may require additional anti-fraud verification. If you plan to make a large transaction, contact us in advance to avoid verification delays.

How is Payset regulated?

Payset is regulated as an authorized Electronic Money Institution by the UK Financial Conduct Authority. Our activities are also regulated by the Payment Services Regulation 2017 and the Electronic Money Regulation 2011 (SI 2011/99).

How do I send money from my account?

Once you have opened your verified IBAN account and added money to a balance, transferring funds is simple.

Simply log in into your account and add a beneficiary, then simply “make a transfer” in your preferred currency to that beneficiary.

Information contained in this publication is provided for general education and information purposes only and should not be construed as legal, tax, investment or other professional advice or recommendation, or an offer of, or solicitation for, any transactions or any other actions (or refraining therefrom); This material has been prepared without taking into account any particular recipient’s financial objectives or situation. We make no warranty, guarantee or representation, whether express or implied, as to the completeness or accuracy of the information contained herein or fitness thereof for a particular purpose; Use of images and symbols is made for illustrative purposes only and does not constitute a recommendation or advice to take or refraining from any action; Use of brand logos does not necessarily imply a contractual relationship between us and the entities owning the logos, nor does it represent an endorsement of any such entity by Pay Set Limited, or vice versa; Market information is made available to you only as a service, and we do not endorse or approve it; Any reference to past performance, predicted returns, or likelihood performance scenarios may not reflect actual future performance and certainly do not guarantee future outcomes.

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I wanted to express my appreciation for the successful cooperation between my firm and Payset. I would like to point out in particular the professionalism, the manner in which requests are handled, the quick response time and the satisfaction of the clients. I strongly believes that we will continue to move forward and create many collaborations in the future

Cpadvice
Asaf and the team
CPADVICE LTD
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The experience of using PaySet account was really interesting. It is one of the most ergonomic systems I have ever used. Support provided is fast and enquires are resolved in no time. I am very satisfied for using this account! Keep going guys!

Lytria
Christina Loizou
Accountant at Lytria
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Through our experience with Payset we are happy to say the services provided were accommodated to our needs perfectly and were performed professionally. The support and customer care is fast and efficient, no question or request is left unanswered or unresolved. 10/10

Canadap
Victoria
Payments and Risk Manager, CanadaP LTD
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For the past year, we have worked hand in hand with Payset Limited to assist us with numerous payments related services. At no one time have they failed me, and they have always been on time, making them one of our top reliable business partners.

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Payments Team
Clearsky Network

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