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At PayPugs, We Believe in Breaking the Banking Barriers

Blog by Markuss Jonans, Business Development Team Lead for PayPugs.

Many of our business customers have experienced inflexibility when opening an account with a traditional bank. Or they may have lost their account with their bank due to a slight change in legislation or in their business activity.

In all cases we, at PayPugs, take a very personal approach, taking the time to listen and to learn about their businesses and the people behind them.

Client needs are at our core

We pride ourselves on full transparency which builds trust between us and our customers. Once we have a full understanding of the business, we will then be as flexible as possible with the services we can offer them, whilst always remaining compliant.

Some companies want to start their business immediately but without the costs of investing in a standalone solution. Through us, an  e-commerce store looking to diversify or a licensed financial entity such as a card issuing organisation could launch a bespoke card program quickly and efficiently using our card products. They would have the freedom to use their own brand, corporate colours, designs, and the PayPugs name wouldn’t have to appear on their clients’ terms and conditions, unless they wanted it to.

They would also have access to multi-currency accounts, virtual IBAN’s wire transfers and further services  to suit their budget. Their clients would be served through our interfaces whilst we would continue to own the products and onboard their clients, so that the Anti Money Laundering and Know your Customer decisions would remain with us.

Helping Forex brokers 

Increasingly, we have found that Forex brokers are looking to diversify into banking to spread their risks and to help with their client loyalty and retention. Providing they hold the appropriate licensing; we can give them the freedom to add bank accounts and personalised banking cards to their portfolio of products to create an integrated payment ecosystem. 

This type of integrated payment ecosystem will optimise their transfers, pay-ins, pay-outs, customer retention and the acceleration and growth of their brokerage business.  

With the security and the ease of an e-wallet or a full bank account, they will have the ability to keep their clients within their ecosystem. And they have the advantage of transacting – pay and be paid – across borders in 39 currencies.

The benefits of Cryptocurrency

Cryptocurrencies (coins or tokens) represent investment opportunities for companies who have been excluded from sophisticated traditional financial instruments that create wealth. For small amounts, any business can now invest in a promising crypto project with the proper research and a sound approach to building a portfolio of quality crypto assets. Cryptocurrency has the potential to be a powerful tool for tracking goods, data, documentation and transactions. It can cut out intermediaries, reduce corruption, increase trust and empower users. For example we have  experience of some businesses, who don’t have access to banks in their country and or don’t trust the currency.  With so much misinformation and behind-the-scenes manipulation being exposed in today’s world, there is a high demand for a new trust-less system.

Investing in crypto may seem complex, however, the same principles apply to it as when investing in any other asset, which makes the transition to crypto investing easier than companies may anticipate. 

At PayPugs we  have the knowledge of cryptocurrencies and we are pretty friendly with crypto-related businesses, so you will be in safe hands with us.

To find out more about setting up a PayPugs account, arrange a call with one of our Business Development Officers.

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