Blockchain-Fueled PayCommerce Completes $22M Series B Investment to Drive Exponential Global Expansion of its Enterprise Cross-Border B2B Payments Network
Summary
The PayCommerce Network leverages its proprietary Federated Ledger platform to enable real-time, instant payments, clearing and settlement integration for its banking consortium. This strategic investment will drive growth, increase the company’s global market share by region and accelerate the expansion of its proven, correspondent-banking consortium and network, which includes more than 90 banks in 75 countries. We are well-positioned to not only meet the tremendous market demand which we are experiencing globally, but also execute on our cutting-edge R&D innovation.” “PayCommerce is uniquely positioned to disrupt the cross-border payment ecosystem with a new model that brings speed, cost-savings, and transparency between member banks to the benefit of its customers. We are excited to be partnering with Abdul and Max at this critical point in time based on the pressing demand for ubiquitous payments across borders.” Joining Mr. The company’s global customer base benefits from significantly lower transaction costs, access to instant real-time payments, acceptance and FX rates and increased efficiency and transparency, as well as management of risk and regional compliance, all on a single platform.
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