Exclusive: Leverate launches payment service as integrated or stand-alone solution

Payment solutions providers have traditionally come from other industry sectors. This week, broker solutions provider Leverate launches a payment solutions service uniquely for the brokerage business.

Leverate restructure

A matter of high importance that has been a major concern for retail FX brokerages for quite some time centers around the methods by which retail traders can fund their trading accounts.

Cross-border payment transactions are less of a concern for merchant services providers than they are for FX firms, largely due to the combination of the financial markets’ business nature, as well as the risk management that has to be implemented to ensure safety of client funds whilst they are in the custody of a brokerage.

Additionally, regulatory stringency has borne down on how client funds are handled, with compliance departments of both the merchant services providers and brokerages applying close scrutiny to the origin of funds.

Today, with the sole funding methods of FX accounts being either via bank transfer or by credit card, payment service provision is paramount.

What are the options?

Until now, algorithmic payment aggregation services, which have been established as part of an electronic payments ecosystem that is largely dedicated to the electronic trading industry, have become a de facto choice for retail brokerages, especially since the demise of less transparent services such as Liberty Reserve, which for a long period of time was the payment method of choice in emerging markets with less well-established financial markets infrastructure.

sirixpay

The demise of services such as Liberty Reserve has caused the regulators and merchant services firms to take even further risk management measures, however nowadays another matter of importance has arisen.

Whilst the existing payment service providers are in widespread use in the FX industry, there has not been an FX brokerage technology solutions provider thus far that has provided a dedicated payment processing system which can be made part of a full broker service solution or provided as a standalone product.

Until now

Today, here at the head office of Leverate in Tel Aviv, Israel, FinanceFeeds took a comprehensive look at the new SIRIXPay system, which is a specialist payment aggregator and payment solutions provider specific to the brokerage industry.

A differentiating factor between this solution and those in current operation within the industry is that its origins lie in the FInTech sector that Leverate operates within as one of the largest and most widely recognized end-to-end solutions providers, rather than having its roots in the affiliate marketing, gaming and adult entertainment industry.

Industries such as the adult entertainment industry, gambling or lead acquisition have been categorized as “high-risk” and therefore many traditional PSPs stray away from providing payment processing service to these sectors, leaving them with little choice for acquiring customer’s funds.

SIRIXPay will be provided as part of a full, all-in-one solution or as an independent payment provision to existing brokerages with either proprietary technology or a third party system from another technology provider.

Read this next

Digital Assets

Masa and LayerZero: Bridging Blockchains for Data Sovereignty

Masa Network is poised to revolutionize the personal data landscape with its upcoming launch as a cross-chain platform, making it accessible on a variety of blockchains right from the start.

Digital Assets

Big Time Generates over $100M in Revenue since Preseason

Innovative game developer Big Time Studios announces that its highly anticipated free-to-play multiplayer action/MMO RPG Big Time, has generated $100M in revenue. According to the team, players transacted a total volume of over $230M, without selling a single token.

Digital Assets

Centralized exchanges are 10 times more popular than DEXs in Western Europe

Western European traders are found to prefer centralized exchanges over decentralized ones as CEX traffic outpaces DEXs by a factor of ten.

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

“The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

Reviews

IUX Broker Review

IUX, recently rebranded from IUX Markets, stands as a multi-asset Forex broker recognized for its regulatory compliance across various jurisdictions.

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

<