Correspondent Bank

Our Correspondent Network

The PayCommerce correspondent bank network is a consortium of 95+ financial institutions worldwide; providing access to 75 countries. We are growing our network to enable coverage in all countries (except sanctioned) over the next 12 to 18 months.

The PayCommerce Network and enterprise platform are designed to address various traditional issues with cross-border account-to-account payments:

  • Beneficiary satisfaction by speed, efficiency and payment in local currency
  • Cost reduction (transaction fees, lifting fees) – multiple intermediaries
  • Control of payments to easily stop or recover funds from beneficiary banks
  • Ability to accurately track payments by different criteria
  • Fraud reduction (especially for check payments)
  • Keeping current with changing currency regulations
  • Enabling the optimal payment method using local clearing systems
  • Fluctuating exchanges rates for payments with FX

PayCommerce offers the ability for both financial institutions and businesses to pay counter parties in foreign locations in a cost effective manner with the fastest settlement cycle available by region  (T+1 / T+2). Businesses with low-value, high-volume payments will see significant cost savings using the PayCommerce cross-border payment solution.

Common customer use cases include:

– Global Supplier Payments – Payroll – Commission Payments
– Merchant Settlements – Pension Payments – Expense Reimbursements
– Dividend Payouts  – Insurance Claim Payments


Our cross-border disbursements solution provides a comprehensive set of services for global transaction management, including:

  • Single and Batch Transaction Management
  • Real-time Transaction Status
  • Built-in FX Rates and Order Management
  • Payment Reconciliation Reports
  • Payment Exceptions Management
  • Automated Transaction Compliance Screening (AML/OFAC/PEP)
  • Payment Alerts and Notifications
  • Comprehensive Remittance Data
  • Industry Messaging Standards (ISO20022, SWIFT MT Messaging, EDIFACT)

Global Coverage of cross border payments.

The PayCommerce Network consists of 95+ member banks in 75 countries. Our platform enables cross-border, account to account transfer in all of these countries:

*      Australia *      Denmark *      Liechtenstein *      S. Korea
*      Armenia *      Estonia *      Lithuania *      Serbia
*      Austria *      Finland *      Luxembourg *      Singapore
*      Azerbaijan *      France *      Maccau *      Slovakia
*      Bahrain *      Georgia *      Malaysia *      Slovenia
*      Bangladesh *      German *      Malta *      Spain
*      Belarus *      Greece *      Mexico *      Sri Lanka
*      Belgium *      Hong Kong *      Moldova *      Sweden
*      Brazil *      Hungary *      Nepal *      Taiwan
*      Bulgaria *      India *      Netherlands *      Tajikistan
*      Cambodia *      Indonesia *      Oman *      Thailand
*      Canada *      Ireland *      Pakistan *      Turkmenistan
*      Chile *      Italy *      Philippines *      UAE
*      China *      Japan *      Poland *      UK
*      Colombia *      Kazakhstan *      Qatar *      Ukraine
*      Croatia *      Kuwait *      Romania *      USA
*      Cyprus *      Kyrgyzstan *      Russia *      Uzbekistan
*      Czech Republic *      Latvia *      S. Arabia *      Vietnam

For more information on our cross border payment network membership and capabilities, please email us at sales@paycommerce.com.