By becoming a ClearBank client, Payset and its users are set to gain access to the region’s payment system for local and cross-border transactions. At the time of the announcement, the integration of the ClearBank API into Payset’s client app was completed, with the latter working on issuing accounts and facilitating incoming and outgoing payments. In addition, the alliance focuses on enabling Payset to provide optimised business and individual accounts to clients in all its supported jurisdictions.
UK bank accounts and sort codes, which enable transactions to be in Payset’s name, with the company being able to settle payments and any queries directly instead of using a third party;
Accelerated GBP payments, with Payset becoming an indirect participant in the UK payment scheme. The company can deliver rapid GBP payments to all clients with access to the Faster Payments, Bacs, and CHAPS networks;
SWIFT payments in several currencies, including EUR, USD, GBP, CAD, CHF, PLN, NOK, DKK, SEK, CZK, and HUF;
Instant FX solutions through ClearBank, with clients benefiting from an optimised currency exchange service;
Direct Debit services after the initial integration of ClearBank API is completed, with Payset planning to move onto the second phase and provide this type of transaction in GBP.
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