Written by Katie Villiers-Smith • Published 8th October 2019 • 3 minute read

PayExpo is back for its seventh year, bringing together the most innovative and exciting payment companies under one roof. Young businesses across industries such as banking, retail, gaming, government, transport and as well as mobile network operators are all promising to transform their respective industries for the better.

We’ve had a look at five of the most disruptive companies attending PayExpo this year.

Rapyd

2019 has been a huge year for London based fintech-as-a-service platform, Rapyd. This month, the startup raised a massive $100m following its $40m fundraise in February.

Rapyd’s platform connects 2.3 billion consumers transacting across the globe by enabling them to pay or be paid however they choose for both local and cross-border payments. It provides access to over 500 local payment types in more than 100 countries earning its title of the world’s largest local payments network. Businesses can integrate local payment methods into a digital application from a single API to seamlessly expand to consumers who depend on local payment methods to transact with merchants.

Payments are finally becoming completely inclusive, no matter where you are and where you operate.

Lendflo

There is $27trillion of wealth that is trapped between purchase orders and payments for goods, according to CEO and Co-Founder of Lendflo, Chris Smith. Waiting for an invoice to be paid can cause huge problems for not only young companies, but large corporations too. Lendflo, a digital invoice financing platform, is tackling this vast wealth gap helping the small guys maintain a healthy cashflow and avoid getting caught out by those late payers.

Built on Ethereum Blockchain and using machine learning, it offers loans against unpaid invoices as well as offering better finance rates by analysing internal accounting software and understanding businesses better.

Modulr

Modulr is fighting back against inefficiency in business payments by building a smarter network. Working with banks, regulators, payment schemes and finance systems its API provides an easy and simple way for all businesses to open accounts and make and receive payments quickly.

Modulr is helping its fellow disruptors, those in alternative lending, payments, and payroll services by improving the infrastructure at the bottom allowing businesses to streamline service, launch products as well letting them scale effectively.

The startup has also experienced a strong year of fundraising, announcing an investment of £14m in May to grow its teams in London, Edinburgh and Dublin as well as receiving £10m in August as part of the RBS Alternative Remedies Package.

Thanks to its support of numerous social causes, the company has also been named as one of LinkedIn’s Top Startups 2019, as one of the top 25 hottest companies to work for right now.

FortuWealth

Fortu Wealth is a digital private wealth solution for high-net-worth individuals. It provides a completely digital banking experience with a personal touch, giving each Fortu user a dedicated personal banker as one would expect with any traditional bank.

As well as providing users with instant multicurrency global transfers without any hidden fees, real time exchange rates, and efficient payment processes implementing voice recognition and confirmation, it also is a multi-asset investment platform. The bespoke platform gives users access to experienced institutional investors for joint venture opportunities in classes such as equities, bonds, funds, venture capital, real estate and more.

Fortu is setting its sights on global business accounts providing multi-currency accounts and pre-paid corporate cards as well as the fast and easy payments it promises.

Reflow

Reflow is one of the first companies to truly utilise Open Banking for the better as the first app to offer one place for consumers to get an accurate, real time overview of all their accounts.

Connecting bank accounts, it breaks down the barriers to simplify payments and offer data insights all on a cloud-based platform. Customers using Reflow can happily say goodbye to logins, passwords and long card numbers to remember and instead have all the power at the tip of their finger.

The company has three products: Flowpay which enables businesses to simplify payments across industries; Bankflow that provides access to user-permissioned detailed transaction history and Flowverify which improves security by validating consumers income and spending behaviour to identify any suspicious patterns.

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