Cross-border payments nearly always end up being more expensive and complicated than you think. Realizing the difficulties mid-size companies face once cross-border transfers are carried out, we decided to step in. Our company MultiPass provides global business accounts for medium-sized businesses scaling up from their home markets.
We remove the stress related to transacting globally, offering our customers the much-needed payment flexibility and providing a branch-like experience where each client has a direct line to a relationship manager and can talk to them whenever there is a need.
The product was originally created as a shared payment solution for all Dyninno businesses and in just a few years, after having secured in-house services, it became attractive to the group’s partners worldwide. Reacting to customer demand, we have evolved into a market-fit product that now helps companies from more than 50 markets to speed up their cross-border payments.
Now MultiPass is offering local accounts in the UK, US and EU, supports 35+ currencies and provides cross-border businesses with a Corporate Expense Card empowering them to scale up globally.
At the core of the business is a unique synergy of the latest tech and human support throughout the touchpoints of interaction between customers and our services. We enable companies to transact globally, offering them much-needed payment flexibility with access to over 30 payment schemes as well as SWIFT and compliment it with a much-missed branch-like experience when they can reach their Relationship Manager instantly over the phone.
The past few years have been very active and fruitful for MultiPass: in collaboration with our partner banks and fintechs we have expanded our payment capabilities, adding new payment schemes, currencies, instant FX, corporate expense cards and extending our payment corridors. We started the year 2021 with just 3 currencies and mostly UK-based customers, however now we provide global multicurrency payments and private-banking like support for companies from all over Europe and beyond.
With a strong focus on technology and customer relationships, MultiPass now positions itself as more than just a payment platform but rather a business partner that provides companies with advice and guidance when entering new markets, and transaction support as they grow.
Our result and performance metrics are quite impressive, too – almost $1 billion worth of transactions were processed in 2021. We continue steady revenue growth in 2022 with a double-digit percentage growth month on month.
Our customers will benefit from the increased number of payment corridors where we offer an instantaneous settlement. Multipass is currently working on two additional licenses to extend the coverage of our offering to even more cross-border businesses globally. Under the hood, we are developing industry-specific solutions which we will be rolling out in 2023.
While developing above, we will use our Group expertise in provision of personalised support in Travel where we interact with 10s of thousands of customers weekly by providing much missed personalised services in the banking industry.
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