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Payset

Company type	Private Limited Company
Industry	Financial services, payments, electronic money.
Founded	2018 (2018)
Founders	Rudi Reager Ophir Gertner ,
Headquarters	9 Appold Street, London , United Kingdom
Number of locations	5
Area served	United Kingdom, global (subject to local regulations)
Services	Multi-currency accounts, currency exchange
Number of employees	64
Website	www.payset.io

Payset, also known as Pay Set Limited, is a fintech company headquartered in the City of London. Founded in August 2018 by Rudi Reager and Ophir Gertner, the company provides a variety of payment solutions, including multi-currency IBAN accounts and international money transfers.

History

Payset was established in August 2018 as a financial intermediation startup by Rudi Reager and Ophir Gertner. Initially based in Borehamwood, Hertfordshire, the company has since expanded its operations to serve a global client base.

In June 2021, three years after its founding, Payset launched its services to corporate clients, and it now serves thousands of both corporate and individual clients worldwide.

Products and services

• Multi-Currency Accounts – Payset offers dedicated multi-currency accounts with International Bank Account Numbers (IBANs). These accounts allow clients to hold and manage funds in 34 different currencies.
• Currency Conversion – Payset provides real-time online currency exchange services, allowing clients to convert up to 38 different currencies.
• Payment Solutions – The platform supports various payment networks, including SWIFT, SEPA, and Faster Payments.

Market position

Payset has positioned itself as a leading player in the UK electronic money market, ranking first among electronic money institutions in the UK and second at the European level. The company is recognised for its innovative payment solutions and commitment to transparency. Founders Reager and Gertner identified inefficiencies in traditional banking, such as slow processes and limited functionality, which they sought to address through advanced technology and strategic partnerships.

Technology and partnerships

Payset leverages advanced technology from partners like iDenfy, Banking Circle, ClearBank, Thought Machine, to improve its services. These collaborations have enabled Payset to provide more efficient and cost-effective solutions for its clients.

Regulatory status

In June 2020, Pay Set Limited was authorised by the Financial Conduct Authority (FCA) as an Electronic Money Institution. This authorisation allows the company to offer payment services, multi-currency accounts, and currency exchange, ensuring full compliance with regulatory standards.