PaySend Adds KYC and Risk Management Tech from 4Stop

Moving money with international money transfer platform PaySend just got a lot more secure. German KYC and anti-fraud technology solutions provider 4Stop has integrated its KYC, compliance and risk management technology with the company’s platform.

“We have always been focused on solving and removing the complexities for businesses’ KYC, regulatory obligations and fraud prevention obstacles in a manner that truly performed on a global scale,” 4Stop CEO Ingo Ernst said. “We are thrilled to see our technology integrated with PaySend and to further support their KYC, compliance and anti-fraud requirements with a fail-safe accuracy, and in the most streamlined and efficient manner possible.”

4Stop leverages hundreds of global KYC data sources, as well as a multi-faceted rules engine, real-time monitoring, rich database management, and data science to provide maximum, real-time KYC coverage. The company’s platform also enables businesses to future-proof their technology by activating any required KYC for compliance as regulations are updated.

Headquartered in Malta and founded in 2015, PaySend demonstrated its international payments and money remittance platform at FinovateEurope 2016. The company leverages a global banking network – as well as partnerships with Visa, MasterCard, and UnionPay – to enable FIs to participate in a network that simplifies remittances, tokenizes card data in demand for social-based transfers, and decreases the cost of sending money.

Earlier this month, PaySend was shortlisted in the Best Consumer Payments category of the PayTech 2018 awards. In 2018 alone, the company has launched its service in the UAE, Canada, Mexico, and Israel – with more than 50 countries now able to receive PaySend transfers. More than 100,000 people currently use its service.