PayAxis is researching the needs of UAE businesses making overseas supplier payments, with initial research focused on India, Pakistan and China. No payment route is currently available through PayAxis. Any future availability would depend on agreements with appropriately licensed providers and completion of the applicable legal, compliance and commercial approvals.
How the workflow is designed.
Verify your business once
The intended workflow verifies a business once, before its first payment.
Add your suppliers
Add the overseas suppliers you plan to pay. Available routes would be shown before a payment could proceed.
Approve; a licensed provider pays
Enter the amount and when it is needed, review the quote and approve. A licensed provider would carry out the payment.
Suppliers, approvals and records in one place
Designed so business verification happens once, and suppliers, approvals and payment records then live together. Licensed providers would do the settling.
Built around when it needs to be there
An invoice due Tuesday is a different problem from one due in three weeks. The workflow is being designed around the date a supplier needs paying.
Built for compliance from day one.
The workflow is designed so that every payment would run on a verified business, a screened recipient and a licensed provider. The design makes these safeguards mandatory.
Business verification
Designed to happen before any payment.
Full audit trail
Designed so every action is traceable.
Licensed providers
We build the software; they would hold and settle funds.
Approval controls
Who can approve, and how much.
Pricing is not currently published.
Payment execution is not currently available, so there is no price to quote. The PayAxis platform fee and provider charges will be described separately once provider arrangements and pricing have been agreed.
- Clear pricing on each supported route — intended, not currently offered
- Platform fee and provider charges shown separately
- Designed to itemise every quote and record