When financial institutions want to offer a debit card or credit card, they hire an issuing processor to help them with those services. When they want to offer merchants the ability to accept cards, they sign up with an acquiring processor.
But when it comes to cross border payments and international fund transfers generally, banks have had far fewer choices, and to industry veteran Gary Palmer, that spelled opportunity.
He founded Payall, a cross-border processor for regulated banks, in 2018. The Miami-based startup has built what Palmer describes as “very specialized” software that gives banks a way to offer their own customers the ability to make cross-border payments. Read more via TechCrunch.