Payco Company Profile, Contacts & Intelligence

Payco Overview

Payco is a Swiss Financial Intermediary revolutionizing international trade finance. Our fundamental service is providing fully compliant letters of credit (LCs) for trade confirmation. However, we go beyond this by providing the fastest, cheapest and most convenient way to access LCs. We do this by employing blockchain technology, artificial intelligence and stable cryptocurrencies. Currently, most LCs are still obtained from banks that operate through slow, expensive and complicated systems. Often, these banks rely on manual processes, which takes several days. We’re cheaper, faster and easier, and our system’s also more secure. With blockchain technology, we can securely handle documents far more efficiently. With artificial intelligence, we can greatly simplify document review processes. Finally, using cryptocurrency stable-coins allows us to execute transactions more swiftly. Importers can get access to a letter of credit in a few minutes. Exporters can receive their documents in minutes as well. When it comes to price, we charge around ⅓ of what banks charge. Payco LCs also don’t need third-party confirmation. This is when a second bank is needed to guarantee a letter of credit in a bank LC. As a Swiss financial intermediary, we cannot operate with a fractional reserve like banks. We keep 100% of LC collateral in secure escrow wallets, removing the need for confirmation. We’re most popular in regions worst affected by delays associated with bank systems. In some locations, bank LCs aren’t even available. Our LCs are fully compliant with UCP600 (the set of rules from the International Chamber of Commerce that applies to financial institutions that issue letters of credit). Payco LCs are also backward compatible with the SWIFT network. Payco LCs are governed by legally binding trade agreements that protect the rights of the buyer and seller. We’re also regulated by Swiss authorities, ensuring the integrity of every transaction.

Headquarters

Zug, Ch

Website

www.payco.swiss

Industry

Financial Services

Founded

2022

NAICS

Finance and Insurance, Monetary Authorities-Central Bank

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