Interview with: Alex Persidskiy

PayDo is an Electronic Money Institution (EMI) regulated in the UK and a licensed Money Services Business (MSB) in Canada. We provide financial services tailored to businesses, including multi-currency IBAN accounts, global payment processing, merchant services, mass payouts, and corporate card issuance.

Alexander Persidskyi - Head of Operations

1. Could you share some insights about PayDo?
We aim to transform online payments by prioritising security, convenience, and user-friendliness. Besides payments, PayDo also serves as a comprehensive financial solution, allowing businesses and individuals to manage their finances efficiently through a unified platform. Our goal is to simplify complex financial transactions and provide the utmost security to our clients worldwide.

 

2. Please outline the primary markets or sectors your industry serves.

At PayDo, our mission is to offer full financial solutions. In other words – we serve a wide range of industries and sectors. Each has its own needs and challenges. Yet, the structure of PayDo services for various industries is the following:

  1. First and foremost, for Small and Medium-sized Enterprises (SMEs) we provide multicurrency IBANs, payment processing, and merchant solutions. We help SMEs expand beyond local markets. We give them tools to manage their finances, and we give their customers many payment options.
  2. Second, for the e-commerce sector, we focus on processing payments quickly and securely. As a result, e-commerce platforms use PayDo’s Merchant Solution to accept many different payments, and give their customers several purchasing options.
  3. Third, for international businesses, the key issue is all about managing transactions in different currencies. We make this process convenient with multicurrency IBANs. Our business clients can send and receive payments to over 150 countries in 35 currencies.
  4. Fourth, for high-risk industries, namely iGaming, Forex, and Crypto, we have solutions allowing them to open business accounts in five business days with a standard package of documents. We understand these industries well, and do everything to make sure high-risk payments are handled in a fast and reliable manner.

As you can see, PayDo has designed its extensive range of services to meet the diverse needs of various industries. We aim to be the financial backbone for businesses. They want to expand, and we offer them the tools to succeed globally. They want to transact in different currencies, and we give them multicurrency accounts, and so on.

 

3. How does PayDo distinguish itself within the European banking sector, and what are your primary markets?

PayDo differentiates itself through a unique blend of innovation, global reach, and unwavering commitment to security and regulatory compliance. And, of course, Our dedication to providing comprehensive financial solutions sets us apart.

  • We offer a diverse range of services for businesses and individuals. They include everything from multi-currency IBAN accounts for global transactions to advanced payment processing and merchant solutions. All of this is within a single platform and one contract. This makes us a one-stop shop for various financial needs.
  • I would also like to add that we reach beyond Europe. We serve a broad audience worldwide. We make it easy for customers to send and receive payments in many currencies. This global view is crucial for our businesses with international operations.
  • Regulatory compliance is another pillar of our success. We follow strict standards as a regulated Electronic Money Institution (EMI) in the UK. We are also a licensed Money Services Business (MSB) in Canada. This provides our customers with a sense of trust and positions PayDo as a reliable partner in the financial ecosystem.
  • Finally, our primary markets include many sectors. Our services are for Small and Medium-sized Enterprises (SMEs), E-commerce Businesses, International Businesses, and High-risk Industries like iGaming, Forex, or Crypto. PayDo is there to meet the unique demands of each sector.

 

 

4. What strengths does PayDo bring to the table?

Our strength lies in our ability to make finance simple for everyone. Whether it’s through offering multicurrency account details, integrating advanced security features, or providing a smooth checkout experience for merchants. We’re all about making life easier for our clients. We have built PayDo by listening to and addressing the needs of our diverse clientele.

 

5. Regulation – how does PayDo cope with the rules imposed by FCA in the UK and FINTRAC in Canada, maintaining two licenses?

Dealing with regulations from the FCA and FINTRAC is no small feat, but we take great pride in it. It’s about more than compliance for us. It’s a commitment to keeping our clients’ high standards for security and reliability. We give users peace of mind that their transactions are in safe hands.

 

6. Can you share information on your most recent advancements?

We’ve been busy rolling out new features to enhance the user experience. From automating the KYC process for quicker checkout transactions to integrating fraud prevention tools. Our latest updates are all about making financial management as smooth as possible. We’re constantly looking for ways to innovate and provide value to our users. These advancements are just the tip of the iceberg.

 

7. What is your strategy towards incorporating cryptocurrency as a payment method or through crypto cards?

One thing is clear, cryptocurrencies are reshaping the financial landscape. And at PayDo, we’re keenly observing this evolution. At the moment, we are cautious yet hopeful. We’re committed to finding a partner by the end of the year. They must ensure the security and reliability of crypto transactions. They must also share our goal of providing innovative financial solutions to our customers. As we navigate this process, our focus is on delivering secure, efficient, and reliable payment solutions.

 

8. Fintech companies, particularly EMIs, often express concern about the complexity of integrating with third-party services. How do you address this?

Integration complexity is indeed a challenge. But we embrace it head-on. Our suite of options includes flexible APIs, ready-to-use plugins for leading eCommerce platforms, and TSP partner connections. We’ve got a team that focuses on making these third-party services mesh with our ecosystem. The key to handling the integration challenge is better user experience.

 

9. After a boom in the number of companies, where do you see future growth in the EMI sector?

The EMI sector has seen rapid expansion. Innovation, diversification, and specialization will drive future growth. So, EMIs that can offer tailored solutions to niche markets, embrace emerging technologies like AI and blockchain, and expand their global footprint will likely lead the way. For PayDo, this means listening to our customers and changing our services to meet their evolving needs. We will do this while staying true to our mission—provide secure, efficient, and easy-to-use financial solutions.

 

10. We’d love to hear your sales pitch in your own words.

Imagine a financial platform. It meets your current business needs. It also anticipates your future ones. That’s PayDo. With us, you’ll have access to many payment services. They are all in one digital account with only one signed contract. This makes your transactions easy, no matter if they’re local or international. Our platform is secure, services are efficient, and customer service is personalized. With PayDo, you’re not just opening an account but unlocking potential.

About the Author: Gilad Oren

With over 25 years of experience, I have cultivated a career marked by entrepreneurial spirit and deep financial expertise, particularly in finance and online marketing. My professional journey began in the private banking and investment sectors, where I sharpened my skills for many years before making a significant pivot. I ventured into entrepreneurship by founding an Electronic Money Institution (EMI) and later incorporated GBO International Financial Services.   At GBO, we have established ourselves as a comprehensive provider of global corporate services, including company formation, banking assistance, and licensing for gaming and crypto sectors, alongside merchant account consultancy and digital public relations. My career is a testament to combining industry knowledge with entrepreneurial zeal to create impactful solutions in the financial and online marketing landscapes.   Let's connect in LinkedIn: https://www.linkedin.com/in/gilad-oren-326231220/

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