Swiss Fintech Klarpay Remains Focused on Expanding Business Operations, Shares Quarterly Updates

As Klarpay moves past Q3 2023, they have reflected on their recent achievements and upcoming endeavors.

Klarpay claims that it has been dedicated “to expanding its services and fostering corporate social responsibility.”

Klarpay further claims that it has “become a participant in the SEPA Core and SEPA B2B Direct Debit schemes and is rolling out Direct Debit functionality to all account holders.”

Customers will reportedly be able “to use their Klarpay accounts for automated subscription services with recurring SEPA payments.”

A significant milestone achieved by Klarpay in Q3 2023 is “the introduction of USD Corporate Visa debit cards.” This enhancement to Klarpay’s services “allows its clients to create U.S. dollar-denominated Visa debit cards linked to Corporate USD accounts.” By providing clients with these cards, Klarpay says it “eliminates foreign exchange costs and simplifies international transactions.”

It particularly benefits businesses and individuals “who frequently use platforms such as Google, Facebook, and Amazon Web Services, streamlining their financial operations and reducing unnecessary expenses.”

The latest addition has replaced the manual reporting to Klarpays Partners. This aims to improve “the speed, experience and transparency for partner earnings.”

During Q3, Klarpay appointed Markus Emödi as “the Chief Legal & Compliance Officer and Deputy CEO.” His appointment signifies Klarpay’s commitment “to maintaining the highest standards of legal and regulatory compliance, ensuring the integrity and trustworthiness of its operations.”

The company has partnered “with two promising young athletes who are part of the Swiss Youth Olympic Sailing talent pool, endorsing them as their official sponsors.”

This partnership is a testament “to Klarpay’s dedication to corporate social responsibility, as it recognises the importance of nurturing talent and contributing to the community.”

Klarpay is introducing Deposit Guaranteed Accounts “backed by a Global Swiss Bank. Such deposit guarantees may be well in excess of 100,000 CHF typically offered by government-mandated deposit insurance. This layer of assurance is tailored to corporate account holders who often have larger balances and wish to use Klarpay’s extensive payments capability tied together with the deposit protection of a Tier 1 Global Bank.”

Klarpay will introduce its “Guaranteed OUR Payment” feature for international transfers.

This ensures the recipient gets “the full amount, with the sender covering all fees, including intermediary bank charges.” This feature reportedly “offers transparency and eliminates the ambiguity often associated with international transfer fees.”

The firm says it aims to find “a balance between modern financial institutions and a personal approach, giving our clients the possibility to interact with their dedicated account managers rather than using an anonymous chatbox.”

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