Redpin, a global property payments platform backed by a £140 million Blackstone investment, has unveiled Redpin Payments, the solution built from the “ground up to bring security and certainty to international real estate transactions.”
Redpin Payments seeks to provide Spanish real estate professionals complete control over all transactions “through one online dashboard while protecting client funds with bank-level security.”
The platform claims to eliminate hours of bank-related tasks per transaction, reduce completion day scrambles, and protect against the email-based fraud that threatens 4 out of 5 Spanish property professionals.”
Redpin was formed in 2023 following Blackstone’s investment in two FX companies, Currencies Direct and TorFX.
Together, these companies have served “more than 925,000 customers, process more than £10 billion of payments annually, and maintain an average Trustpilot score of 4.9 – reflecting 25 years of trusted service that forms the foundation for Redpin’s platform vision.”
Redpin Payments is the digital platform dedicated “to property payments, designed to mitigate fraud and bring the security of modern digital wallets to the previously analogue, high-risk process of purchasing a home abroad.”
Redpin Payments is launching first in Spain, where “many property purchases are still handled manually and one in five involve international buyers.”
The platform will roll out to additional markets later this year.
Cross-border residential property transactions “represent a £4.5 trillion annual market globally.”
Spain remains a popular destination for “foreign buyers, with its top five regions including Valencia, Andalusia, Catalonia, the Canary Islands and Murcia.”
Spain’s international property market represents “both a significant opportunity and risk: foreign buyers purchased more than 125,000 homes in 2024, spending approximately €26 billion.”
However, Spanish Ministry of Interior data shows “international buyers are 32% more likely to be targeted for cybercrime, with real estate fraud attempts increasing 43% during peak foreign buying seasons.”
Wire fraud and online scams are growing in “prevalence and disproportionately affect older customers, who are more likely to be buyers of properties in popular Spanish retirement locations.”
Many European jurisdictions still operate “under legacy regulatory regimes for property transactions, often requiring physical paperwork, wet signatures, and face-to-face identity verification.”
Europol’s 2023 report on cyber-enabled fraud also “highlighted an increase in social engineering tactics, including fraudulent payment instruction scams, phishing, and identity theft that specifically exploit the slow and fragmented nature of international property payments.”
Redpin Payments enables Spanish solicitors to “reclaim hours from each transaction while providing enhanced security and cost savings to their clients.”
By eliminating bank visits for OMF transfers and banker’s drafts, and streamlining completion day processes, solicitors “can focus on high-value legal expertise and personalised client relationships rather than administrative payment tasks.”