WHO ARE SIMPLYPAYME

The SimplyPayMe Story

A fast growth, award-winning start-up, seeking expansion in the US, SimplyPayMe needed to enhance its due diligence and improve AML and fraud prevention rates, whilst delivering near-real-time customer onboarding journeys.

“We had a number of requirements when we came to W2,” says Gary Prince, Chief Strategy Officer. “We needed to perform due diligence in a centralised location, gain access to data from multiple sources to increase match rates and fraud detection, and improve the methods by which we identify individuals that could present a financial crime risk.”

SimplyPayMe had a clear requirement to screen customers against various global watchlists. W2 pulled together its AML and Fraud Detection solutions into a customised bundle for SimplyPayMe. Unifying global sanctions, politically exposed persons (PEPs), adverse media data and anti-fraud screening through a single access point to helps it prevent money laundering at initial onboarding stage and at point of payment transactions.

“Expansion in the US meant we needed to satisfy the requirements of large payment processors as well as stringent regulators, ”explained Gary. “W2 ensures we’re transacting with the right people, and that we can deliver as near as real-time onboarding journeys as possible. W2 massively sped up the process for us, they are without doubt the best partner for us.”

With W2’s help SimplyPayMe is quickly, safely, and compliantly onboarding hundreds of new merchants every month. This has fuelled growth and enabled them to act on a level playing field with more established payment providers in the market.

“W2 is almost like a pseudo aggregator of data, which is fantastic for a business like ours. They give us the ability to work with several different organisations through a single interface and single layer integration,” concludes Gary. “We have a consultative partnership, working together to continually enhance our leading compliance product suite. We might be a small business, but they treat us the same as they would a big bank.”

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