Press Release: April 27, 2020
Octopus Pays, a Singapore-based digital payment platform, has launched services for European companies that have been left underserved by the traditional banking industry. Businesses can now open a multi-currency payment account online, send and receive funds with SEPA and SWIFT internationally.
"Crowdfunding, peer-to-peer, digital platforms and businesses operating with cryptocurrencies are branded as high-risk by banks and refused bank account opening. There is a significant number of businesses left out by the traditional banks.
Octopus Pays is addressing this market gap by giving access to convenient global payment services tailored to such industries. We are growing fast and plan to expand our service offer in the following year to better serve the digital industry."
The Business account opening is done completely remotely and online assisted by a dedicated account manager to facilitate the process.
Once onboarded the company can take advantage of multi-currency payment accounts denominated in EUR, USD and RUB, SEPA and SWIFT transfers as well as free international transfers between platform users. Companies are able to onboard their business partners and employees and make instant payments without commissions. Furthermore, Octopus Pays Private account opening is free of charge.
Supporting SMEs during COVID-19
To support the SME sector that has been hit the hardest by the economic impact of coronavirus, Octopus Pays has issued a 20% discount on all new Business Account setup fees until June 1st, 2020.
More details on Business account opening:
About Octopus Pays
Based in Singapore, Octopus Pays is a digital payment platform enabling businesses underserved by traditional banks to access international payment services.