Everything to Know about PayX

To meet the growing demands of the financial sector, including banks, money transfer operators (MTOs), small and medium-sized enterprises (SMEs), and other remittance companies, PayX is the most comprehensive multi-agent, multi-channel, multi-currency, and multilingual transaction processing software in the world.

Along with the dimension of Fintech, the challenger banking terms can be used. Neo banking along with some trending services such as MTO, MSB, and open banking are the prime parts of open banking in money services.

MSB: By verifying our software against important industry requirements, MSB's platform makes sure businesses achieve and maintain compliance.

MTO: In MTO manufacturing, the inventory that is created is connected to a sales order; in MTS, it is not. The only accurate indicator for make-to-order inventory segmentation is the sales order.

Open Banking: Open banking refers to the process of granting access to customer banking data, such as transactions and payment history, to third-party payment services and financial service providers. Due to the utilization of application programming interfaces (APIs), this approach is achievable.

A cutting-edge online remittance method is PayX. The whole life cycle of a typical remittance transaction is covered by PayX. PayX is made to support any MSB/MTO business model for clients and customers all over the world. It includes senders, agents, compliance, ledgers, and accounting, as well as the whole range of users and stakeholders.

The highly regarded transaction processing system PayX has several great features. Its ability to process a million transactions each month demonstrates its position as the industry leader in remittance solutions.

Know the Factors about PayX

Commission Management and Exchange Rate

Complete control over currency, commission, and exchange rates with the opportunity to define (manually or automatically) variable margins for exchange rates or charge flat fees based on transactions with PayX.

Advanced Reporting

A comprehensive and user-specific reporting module that may assist you in doing performance analysis, account reconciliation, keeping track of your transactions (both online and offline), and much more.
To improve your control over the company, create recurring reports for each nation, sender, agent, and distributor.

• The protection of KYC and AML is in accordance with the most recent regulatory requirements.

•  PayX assists you in maintaining compliance with all money transfer activities with regulatory sanctions lists in many countries, including those maintained by OFAC, UNSC, MLRO, HM Treasury, OFSI, and PEP;

•  Additionally, PayX is made to maintain client-specific checks on all transactions and processes.

Support for complete transaction processing with a variety of deliveries and payment options

PayX is made to adapt to the needs of dynamic, quickly expanding international remittance and payment processing with a fintech development company UK

Exchange rate and Commission Management

Complete control over currency, commissions, and exchange rates with the opportunity to define (manually or automatically) variable margins for exchange rates or charge flat fees based on transactions.

Supports multi geographical configurations and business rules.

• Because we love our customers, we configure our systems to meet their needs or make use of available infrastructure in order to uphold our 100% uptime promise.

• Configuration of users, exchange rate, commission, and compliance using client-side rules

• To handle multi-currency and multi-agent applications that have your complete authorization, we offer a user-friendly interface and solution.

User Friendly

Completely automated remittance transaction processing that is user-friendly;

Enable secure, resilient platforms to be used by all authorized users to access the system;

Processing transactions in a matter of seconds.

Support configurations according to geography.

Because we love our customers, we configure our systems to meet their needs or make use of available infrastructure in order to uphold our 100% uptime promise of 

PayX.

Authorized users may simply access it from anywhere because it is web-based. PayX was created with the convenience of our clients in mind, employing advanced protected channels and encrypting data for safe transmission. Authorized users may easily use our systems at any time, while agents may have a defined amount of time during which they can work on the payroll of a fintech development company UK.