WeavePay, a Platform that Makes International Payments Easy for Businesses of All Sizes and Freelancers

WeavePay

You might believe that in 2022, everyone can access mobile banking apps, virtual cards, and money transfers. In reality, despite the growth of the fintech and banking industries, affordable and easy payments are still available to a small percentage of the world’s population. Banks require difficult-to-obtain documentation and make applicants wait without a guarantee of approval, whereas leading fintech platforms only work in certain regions. However, things may soon change for the better as new platforms emerge to address the issues that the giants leave unsolved.

What do the majority of international banks and fintech platforms require?

Banks still prefer to open accounts for ​​people who are traditionally “reliable,” which means they have a good credit score, a stable job, a high income, and their business has a proven track record. The truth is that not many people who want simple payments fit this description. Many nowadays work as freelancers, self-employed, or sole proprietors, so the system limits their options. It will take weeks for them to find a bank or platform to open an account.

If they don’t have a UK or EU residence permit, which is another difficult thing to obtain, they may be unable to open any account. But even if they have a high income and live in a wealthy country, they will have to wait weeks for their cards to be issued and pay high fees for service and transactions.

So it appears that fintech platforms and “open” banks only claim to be open. A closer look at their offerings reveals that their solutions are only convenient for relatively wealthy individuals. However, with the emergence of platforms aimed specifically at resolving the aforementioned issues, things may change.

What is WeavePay?

WeavePay is one such solution. It is a UK-based fintech platform well-suited to the needs of small, medium, and even large businesses, self-employed individuals, and freelancers. WeavePay enables users to accept and send payments globally, exchange foreign currencies, and issue virtual and physical cards from internationally recognized systems, all with a single click.

Key differences from other solutions

To begin, WeavePay offers 100% non-chatbot support, which means that any client, no matter how complex their question, can contact a real manager 24 hours a day, seven days a week.

Furthermore, WeavePay significantly expands opportunities for those underserved by fintech platforms and traditional banks: small and medium-sized business owners, self-employed individuals, and freelancers. It is important to note that the platform is available for people outside the UK or EU, which gives WeavePay a significant advantage over other solutions.

If everything is done correctly and an applicant provides a valid ID, they can get their IBAN in less than 15 minutes and a virtual card instantly to use for foreign exchange and as a payment gateway.

Last but not least, fees are reasonable. For example, a virtual card won’t cost more than 3 euros per month.

How do you register, and what documents do you need?

The registration process is straightforward and should take no more than 15 minutes.

All the applicant should do is go to weave-pay.com, click “open an account,” and then choose the type of account they want to open (it could be personal, business, or merchant). Following that, they should verify their email and phone number.

And then, all that is required is to submit a few documents for identity verification, such as a valid ID. A personal manager may also request a lease agreement or a contract with a client in some cases, but nothing more complicated.

License and availability in various regions

Users can rest easy knowing that their money is safe because reputable institutions have confirmed the project’s reliability. WeavePay is licensed by the FCA (Financial Conduct Authority) as an EMI (Electronic Money Institution). It means that, as a non-bank entity, the project can accept, send, and perform all monetary operations other than lending out funds.

For the time being, WeavePay is available to users in over 190 countries and operates in over 40 currencies, providing flexibility for international payments instead of limiting them to the most popular currencies such as euros, dollars, and pounds.

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