Businesses in the US, Canada, UK, and Europe lose 5%-7% and wait 3-5 days every time they wire money to teams and suppliers in emerging markets.
Storspay offers B2B cross-border payouts and payroll infrastructure which enables businesses to pay teams, contractors, and suppliers in 26 countries across Africa (19 countries), Latin America, and Asia to local bank accounts or mobile money the same business day at 2% all-in at the mid-market rate. Recipients don't need an account or an app.
Storspay also works in reverse: businesses can get paid by customers in those countries who pay a local request with funds landing the same business day. Receiving and holding balances are free.
Freelancers and sole traders in those countries can also get paid by overseas clients like a company, with USD account details and EUR, GBP, and CAD on request.
Storspay is headquartered in Canada and maintains a US office in New York.
Storspay is B2B only; every business is verified.
A company in the US, Canada, UK, or Europe can pay its contractors, remote team, and suppliers in Nigeria, Kenya, Ghana, Brazil, Mexico, and 21 more countries from one balance. Each person receives local currency in their bank or mobile money account the same business day, at 2% all-in instead of 5%-7% on a bank wire. Recipients need no account and no app.
An exporter, events firm, or service company can send its customer in Lagos, Nairobi, or Sao Paulo a payment request by email, SMS, or WhatsApp. The customer pays it in local currency like a local bill, and the funds land in the company's Storspay balance the same business day, ready to pay out to a bank in Canada, the US, the UK, or Europe.
A freelancer or sole trader in Benin, Kenya, or Nigeria can get USD account details (with EUR, GBP, and CAD on request) so clients abroad can pay them like any supplier. Receiving and holding are free, and freelancers can cash out to a local bank or mobile money the same business day at 2% all-in.
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