Dynapay, the UK-based payment solution, part of Dyninno Group of companies, announces a rebranding and product relaunch. Dynapay has transformed into a bank challenger Multipass. The newly launched brand provides payments to and from 180 countries, with local payment accounts in the UK, US, and EU, as well as a single multi-currency account supporting 38 currencies.
As a bank challenger, Multipass provides all features customers could demand: fully remote onboarding, multi-currency services with a live foreign exchange desk at wholesale rates, payment account activation in minutes. It provides a global network of real-time tracked payments, the ability to pay and receive payments in foreign markets as local companies (making transactions cheaper and faster), and 24/7 access to a dedicated personal account manager with branch-like experience over the phone.
Multipass runs effective risk management and fraud prevention procedures, supported by an AI-driven financial risk detection platform. It takes an individual approach and focuses on continual support to the customers at the core of its strategy. Multipass offers an open API for third-party software developers that allows them to create value-added services on top of legal, technical, and banking infrastructure.
Target customers of Multipass are mid-size companies with cross-border activities that operate in multiple currencies: importers & exporters, IT and cross-border service providers, travel companies, marketing & CPA agencies and companies from other industries that are scaling globally. Multipass already provides business accounts for global payments in EUR, GBP, USD, and 35 more currencies, and aims to increase the list significantly in the upcoming years.
Multipass originated as a shared payment solution for Dyninno Group of companies. Dyninno Group has been operating in 50 markets with different currencies, payment systems, and regulations, so it has developed its own tool to coordinate and speed up the payment processes with contractors, partners, and customers in the multiple locations of its presence.
Initially created as an internally focused solution, Dynapay became attractive to Dyninno Group’s partners worldwide. Reacting to customer demand, Dynapay has been developed into a market-fit product. It was registered as an authorised electronic money institution (Authorised EMI) by the Financial Conduct Authority, the UK in 2018. Being rebranded as Multipass, the global fintech company will continue to scale its business globally.
“Multipass is a young and progressively thinking team of experts, following the ultimate goal of sharing their know-how in the Fintech industry. We are glad to provide high-quality services to customers,” – says Dmitry Tsymber, Co-Founder of Dyninno Group of companies and CEO of Dyninno Fintech Division. – “Multipass has a simple and convenient model to operate across markets and countries, especially for mid-size companies,” – he continues.
“Multipass is about enabling globally scaling companies to enter new markets faster and more efficiently. The company is opening new opportunities to the UK and EU-based entrepreneurs by removing cumbersome processes of incumbent banks. We are combining Dynnino’s Group expertise in provision of scalable personal support to tens of thousands of customers per month in 12 languages with latest fintech infrastructure and AI-driven compliance build by Multipass. We provide our services in the same manner as it was in the old times, when a business owner could walk into a branch and sort out all their banking needs on the spot,” – comments Konstantin Zaripov, Managing Director of Multipass.
About
Multipass (a trading name of Multipass Platforms Ltd) is a bank challenger founded in 2017 as a part of Dyninno Group. It provides smart and flexible financial solutions, including current accounts and currency operations in over 20 countries. The company offers a single account for multiple banking needs to cover all global business operations. Multipass Platforms Ltd provides financial solutions for international businesses trading globally and is registered by FCA as an Authorised Electronic Money Institution (ref: 900840). www.multipass.co
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