Company: Guavapay
Founder: Orkhan Nasibov
Website: https://guavapay.com/
About Guavapay
Guavapay Limited is a global fintech company with headquarters in London and CEO as Kamal Hasanov. Over the past seven years or so, we have worked tirelessly to build and develop a comprehensive global financial ecosystem of products that empower individuals and businesses to give them greater control and certainty over their finances, as well as satisfying any and all payment requirements.
Our journey began in 2017, when we were a card processing centre, but in February 2019, we obtained our small electronic money institution (SEMI) licence. We then spent two years building the products and services, culminating in our official launch in 2021. Guavapay owns and operates the ‘All Things Payments App’, MyGuava – which is aimed at retail clients and functions primarily as a mobile application and MyGuava Business – which is aimed at corporate clients and functions as a payments platform.
MyGuava
MyGuava offers individuals the ability to open multiple accounts in 20 different currencies, including GBP, USD and EUR, from which local and international payments can be sent for free. There is also the option to link virtual and physical debit cards to these accounts, meaning making payments on the go – both domestically and while abroad – is simple and straightforward.
We provide Apple Pay and Google Pay options, as well as cash back incentives and analytics and spending tools. Ultimately, we enable individuals to take control of their spending and improve money management through their smartphone.
MyGuava Business
MyGuava Business offers free corporate accounts in 20+ currencies and access to physical and virtual cards, allowing businesses to easily manage payments both locally and internationally. Our platform simplifies global transactions, allowing businesses to send money in 90+ currencies to over 160 countries.
We also support a broad range of payment networks – Faster Payments, SEPA, SWIFT, BACS and CHAPS – ensuring safe and fast transfers. Our highly competitive and transparent FX rates, combined with batch and recurring payment options, provide businesses with the tools they need to streamline financial operations, save on costs and scale effectively.
Impacts and Challenges
One of the biggest challenges has been in the relatively rapid development of our products and services to achieve what we intended from the outset: providing a truly end-to-end payments solution for retail customers and business clients. It is fair to say that fintech and payments is a highly competitive sector, so to try and put your head above the parapet and exist as a one-stop-shop is no mean feat.
Indeed, it has taken us years to get to where we are now in a position to onboard clients and service them from beginning to end. It is entirely possible for a customer to utilise our solutions and have no need to go elsewhere. We also pride ourselves on being competitively priced, which can only have a positive impact on the sector, in terms of creating an environment for a pricing war, which benefits customers in obvious, myriad ways.
The next stage in our development is to enhance existing solutions by expanding their capabilities, enter into new territories and jurisdictions, and develop new products and services that complement our current suite.
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