Multicurrency Account Use Case

Payroll Companies

Global payroll company manages the salaries of remote employees located in different countries.
By integrating with the our Multicurrency Account API, the payroll companies can issue named foreign currency accounts to their remote employees. This allows for seamless and efficient salary payments in USD or EUR, enhancing employee satisfaction and reducing administrative overhead.

Fintech Companies

Fintech company offers financial services to freelancers that operate internationally. By leveraging the Multicurrency Account API, fintech companies can offer its users named foreign currency accounts which allows users to manage their international payments more efficiently, reducing transfer times and costs while ensuring compliance with regulatory standards.

Individuals with Friends and Family Abroad

Individuals that receive financial support from friends and family abroad. Can now receive USD and EUR directly into their named accounts.

Digital Nomads

A Digital nomad travels and works from various countries, and a reliable way to receive payments from clients worldwide. Digital nomad can now receive payments in USD or EUR directly into their named account, regardless of their current location.

Freelancers and Remote Workers

With a our Multicurrency Account, freelancers and remote workers can now receive payments directly into their named USD or EUR account.

Direct Debit Use Case

Directly debiting a customers bank account.
Recurring payments.
Loan repayments.
Subscription services.

Payment Link Use Case

Here are multiple use cases for payment links:

• Freelancers and Consultants:
  Freelancers can send payment links to clients for project work, consultations, or services, making it easy to collect payments without the need for complex invoicing systems.

• E-commerce without a Website:
  Small businesses or sellers without an e-commerce platform can share payment links through social media, email, or messaging apps to collect payments from customers for products or services.

• Event Registration Fees:
  Organizers of events, webinars, or workshops can use payment links to collect registration fees from attendees. The link can be included in email invitations or event pages.

• Charity Donations:
  Non-profit organizations can create payment links to collect donations quickly and securely. These links can be shared on websites, newsletters, or social media platforms.

• Invoicing for Services:
  Service providers, such as tutors, coaches, or personal trainers, can use payment links in place of traditional invoices, enabling quick payment collection for sessions or consultations.

• Crowdfunding Campaigns:
  Individuals or businesses running crowdfunding campaigns can use payment links to collect contributions directly, offering an alternative to traditional platforms.

• On-Demand Services:
  Drivers, delivery services, or home service providers (like plumbers or electricians) can send payment links once a job is completed, allowing customers to pay instantly.

• Healthcare and Telemedicine Payments:
  Doctors or healthcare providers offering telemedicine services can send payment links for consultations, making it easy for patients to pay before or after their appointments.

Each use case highlights the flexibility and convenience of payment links for different business models and services.

Virtual Account Use Case

• Freelancers and Contractors (Multi-Currency Payments):
  Freelancers working with international clients can use virtual accounts in different currencies to receive payments without the need for multiple bank accounts, reducing foreign exchange fees and delays.

• E-commerce Businesses (Payment Reconciliation):
  E-commerce businesses can assign unique virtual accounts to each customer or transaction to streamline payment reconciliation, ensuring that payments are easily tracked and matched to the correct orders.

• Subscription Services (Automated Payments):
  Subscription-based businesses can create virtual accounts for recurring payments, enabling customers to make automated monthly or yearly payments without needing manual intervention.

• Marketplaces (Payout Management):
  Online marketplaces can assign virtual accounts to vendors for better tracking of sales and payouts, ensuring that each seller receives the correct earnings without manual calculations.

• Financial Services
  Fintech companies can issue virtual accounts to users to manage deposits and payments, allowing them to offer wallet services, loan repayments, or fund transfers within a closed-loop system.

• Real Estate and Property Management (Rent Collection):
  Property managers or real estate companies can provide virtual accounts to tenants, simplifying the rent collection process by automating payments and tracking each tenant’s payment history.

• Educational Institutions (Fee Collection):
  Schools and universities can issue virtual accounts to students or parents, streamlining the payment of tuition fees, hostel charges, and other expenses by linking payments directly to the student.

• B2B Transactions (Customer-Specific Accounts):
  Businesses working with multiple clients can assign virtual accounts to each client, ensuring that incoming payments are correctly attributed to the respective client, simplifying reconciliation and cash flow management.

• Gig Economy Platforms (Contractor Payments):
  Platforms that manage gig workers (e.g., delivery drivers, ride-share drivers) can use virtual accounts to handle payments for each worker, automating payouts and ensuring transparent payment tracking.