In development, cross border payments
In developmentCurripay.
Canadian dollars and US dollars, moved for small businesses at a rate they can see and a time they can plan around.
What this proves for client teams
Still in development, no launch date. Client teams see why a payments product starts as a ledger with customer money kept separate, not as a screen over someone else's dashboard.
The problem
A small business gets the worst version of this.
A Canadian company invoicing American customers, or paying an American supplier, converts money constantly and rarely knows what the conversion cost until after it happened. The rate is quoted vaguely, the fee is somewhere else, and the money arrives when it arrives.
Curripay is being designed for smaller Canadian businesses using the CAD–USD corridor, with fees and settlement timing presented before a transfer is confirmed.
How we are building it
Three commitments. They are the whole reason this takes longer than putting a screen over somebody else's product.
One
Our own books
Balances, transaction history and reconciliation are ours, not a view of a provider's dashboard. It is the difference between a product and a reseller.
Two
Customer money kept separate
Customer funds sit in protected accounts with regulated partners and never touch the company's operating money.
Three
Nothing opens before the licences do
Foreign exchange in Canada is a regulated activity. Registration, counsel and signed partner agreements come before customers, not after.
What we are not saying yet
A payments product in progress should be quiet about the things that are still moving.
Partners
Banking and payment partners are named publicly when the agreements are signed, and not before.
Pricing
Rates and fees get published once they are real and can be held to. A number quoted early is a number somebody plans around.
Dates
Regulatory timelines are not ours to promise, so there is no launch date on this page.
Founder's note
In payments, the interesting work is not the transfer. It is what happens when the transfer half fails. That part gets built first, which is why this one is slower than the others.