Founder’s Message

Founder’s Message

The 1970’s—there was no European Union, dictators ruled several South American countries, the Soviet Union was a world power, there was a war in Southeast Asia. And, SWIFT was formed as well as many Core banking systems.

Growing up during this era, who could have imagined the world we live in today? From global, complex supply chains and interconnected economies, to the ability to make free video calls to anyone in the world, to the rise of the “gig economy” and freelance or mobile workers who value choice and mobility over job stability – much has changed.

But when it comes to cross-border payments, little has changed.

For example, if a worker outside the US is paid $400, most US banks charge $40-$50 to make this payment - even if the worker has a USD account. And when the $400 arrives, up to 4 days later, the local bank charges $40-$50. Total cost - $80-$100 for a $400 transfer. Why does it cost so much? And why does it take up to 4 days?

We understand the issues banks face and the root-causes of these costs and delays.

At my first company, WildCard Systems, we created the first native-built “prepaid issuing processor” – and banks depended on us for enabling payroll, corporate incentives, tax refunds, gifts, social benefits and other payments to be made onto Visa, Mastercard and UPI branded prepaid cards.

At Adaptive Payments, we re-purposed the PIN-debit or single message card infrastructure to be used for “24x7 instant payments” to bank accounts. This construct has enabled billions of consumer payments to be made instantly and at a fraction of the old cost.

Payall makes foreign-initiated B2B and B2C payments just as safe, if not safer, than domestic initiated payments.

Now we’ve pioneered yet another form of bank processor – “a cross-border processor”. And we’ve built technology and processes that represent a compliance break-through in terms of KYC, KYB, economic legitimacy of payments, source of funds, use of funds that's enriched with new data points and artifacts - we feature “Click-for-KYCC” ™ - "Know Your Customer's Customer". We enable absolute transparency and safety to what has always been an opaque, high-risk transaction.

Our technology and bank partner paradigm transforms how banks make cross-border payments powering “correspondent banking-as-a-service”.

Banks can enable their business customers to “pay anyone, anywhere” with a simple API to automate workflow or use an intuitive web app to simplify cross-border payments. Moreover, businesses avoid the costs, time, error-prone manual work and extreme risks of collecting and storing a recipient’s personal and bank details.

The news is equally beneficial for recipients. We’ve pioneered mobile-forward, novel options that give businesses and individuals complete control over how they manage and spend their money. And banks can offer this far superior product for far less (60% to 90%) than $40 per payment and yet have a high-margin product. Our end-to-end software that automates manual business processes and new bank paradigm make this possible.

While our technology is familiar and mirrors the single shared platforms of the US Fed Wire system and TARGET2 in Europe, there is a substantial complement of specialized enabling technologies. Moreover, we recognize that blockchain and DLT are invaluable in numerous commercial and payment uses cases – and our technology supports these. The best of the tried-and-true, and yet efficient support of, and a bridge to new tech.

And this is all external to a bank’s core.

You may be a small or mid-sized bank, or credit union that wants to provide business payers with global payments. We can help. We’ll get you to market fast and easy with our end-to-end service, including support personnel, white-label web and mobile-forward platform, and even digital marketing – everything that’s needed so you can efficiently offer cross-border payments.

Or maybe you’re a financial institution that’s a specialist in this area and facilitate a massive volume of domestic payments on behalf of foreign banks. Alternatively, perhaps you’re a domestic bank that recognizes this massive market is underserved and you want to enter. In either situation, we provide all you need to support foreign banks and their business payers - safely. Enabling the safest payment possible is our highest priority and we deliver. We’ll enable artifact-rich and authenticated transparency to source of funds, economic legitimacy of payments, KYB and KYC. Compliance officers and regulators will be thrilled with our risk-mitigation breakthroughs and unique compliance capabilities that make foreign-initiated payments safer than domestic payments. But this is just the beginning of how we can help.

We recognize that it’s a thankless, high-stress and nearly impossible job to be in “product”, “innovation” or “compliance” at a financial institution. Talk to us, ask some questions, share what you’re thinking or worried about, or just get to know us and you’ll discover that we offer a truly unique, thoughtfully designed and end-to-end cross-border product to safely and efficiently power all sizes of business payers, including FinTech..


Gary Palmer

Founder, President and CEO

A new way for

FinTech to get to market

Read Whitepaper

Let's fix cross-border payments

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