Payall Payment Systems

About Payall Payment Systems

Payall Payment Systems, founded in 2018 by serial fintech entrepreneur Gary Palmer, operates as a specialized processor for cross-border payments, targeting regulated financial institutions. Palmer's extensive background includes co-founding WildCard Systems, considered a pioneer in network-branded prepaid cards, which was later acquired, and Adaptive Payments, the technology behind Mastercard Send. This experience highlighted a significant gap in the market: the slow, costly, and high-risk nature of international payments, a system largely unchanged for 50 years.

The company provides a white-label software-as-a-service (SaaS) platform to banks, credit unions, and other regulated entities, enabling them to offer modern global payment services without competing against them. This business model allows financial institutions to leverage Payall's infrastructure to facilitate payments for their own customers. The platform is designed to make international money movement as efficient and secure as domestic transactions. Payall's revenue is generated through its B2B partnerships with these financial institutions.

Payall's core offering is a proprietary global payment platform that automates complex compliance and risk management tasks. A key feature is its "Know Your Customer's Customer" (KYCC) product, which provides transparency into international transactions, a significant departure from the traditionally opaque correspondent banking system. The platform includes a payments and account management engine called SiGMAPP (Single Shared Global Multicurrency Asset and Payments Platform). This system enables near-instant, 24/7 global payments and supports mass payment capabilities via API or simple file uploads. It also offers inclusive payout options, allowing recipients to receive funds via bank transfers, mobile wallets, or cash pickup, catering to both the banked and unbanked populations across approximately 130 countries.

The technology is designed to sit at the edge of a bank's existing core systems, integrating via APIs to automate pre-transaction checks for compliance, risk, and standard operating procedures. This approach significantly reduces manual work, costs, and the risks associated with anti-money laundering (AML) regulations. The company has secured significant funding, including a $10 million seed round led by Andreessen Horowitz (a16z) and a subsequent Series A growth round, to expand its global reach and further develop its AI-driven compliance and risk management tools.