• Kenyan fintech Payd enables instant cross-border payments to more than 35 countries at fees up to 70% lower than traditional banks.

• The Nairobi-based startup launched in 2023 to serve freelancers, creatives and small businesses operating globally.

• Payd allows users to open virtual dollar and euro accounts and manage international payroll, invoicing and bulk payments.

Payd operates as a fintech solution developed by a Kenyan startup. The platform provides a suite of financial tools that allow users to receive, send and manage money internationally within seconds. The Nairobi-based startup launched in 2023 under the leadership of founders Benaiah Wepundi and Japheth Achimba.

“Our PayPal accounts were suspended due to address verification issues and irregular income,” Benaiah Wepundi told Disrupt Africa. “I was also running a distributed talent team across Kenya, Nigeria, Brazil and the Philippines for a U.S. company, and payroll was always delayed by a full day,” he said.

At the core of Payd’s offering, the platform delivers instant payments to more than 35 countries, with fees that can be up to 70% lower than those charged by traditional banks. Users can send funds through mobile money, bank transfers, cards or digital dollars, which removes the three- to five-day delays commonly associated with conventional banking services.

Payd also focuses on simplifying income generation for independent workers. Freelancers can create professional invoices within minutes, generate payment links and set up customized digital storefronts that allow clients to pay easily for services or products.

“Most users never directly interact with wallets, chains or tokens: they simply receive and use their money as they would with a bank account,” Wepundi said.

Another key feature allows users to open virtual U.S. dollar and euro accounts within minutes. This capability enables users to receive international payments without complex banking procedures and convert funds into local currencies at often more competitive exchange rates.

Payd also targets businesses through its Business offering. The platform provides advanced financial management tools, including international payroll management, automated invoicing, expense tracking and the ability to execute bulk payments to global partners and subcontractors.

This article was initially published in French by Adoni Conrad Quenum

Adapted in English by Ange J. A. de BERRY QUENUM