Partnering with IFX Payments, Sciopay have evolved from a promising startup to an established provider, since processing over £3 billion in cross-border payments. By integrating with our API, they’ve built a reliable payment infrastructure that scales with them whilst maintaining the seamless experience their business clients demand. It’s just one example of how financial intermediaries can use our infrastructure to expand their business.
About the client
Sciopay helps businesses launch compelling FX offerings to their customer base. As a Payment Institution authorised by the Financial Conduct Authority, they provide partners with the ability to manage foreign exchange and payment requirements through a branded payments platform.
Co-founded by Saqib Mirza, Sciopay empowers brands to embed cross-border payment experiences for their customers. ScioHub manages payments across more than 150 jurisdictions, enabling real-time payments and local settlements.
The challenges
As Sciopay looked to scale over the past 12-18 months, they faced several critical challenges that could have limited their growth:
Scalability barriers: Their existing infrastructure couldn’t handle the increasing transaction volumes without compromising performance. They needed a partner who could grow with them.
Settlement delays: Traditional payment processing was causing delays that affected customer satisfaction and business operations. Speed matters in cross-border payments.
Trust and reliability: With businesses depending on Sciopay for critical payment operations, they needed absolute confidence in their infrastructure. There was no room for system failures or unreliable processing.
Complex integration requirements: Building a seamless payment offering required sophisticated API capabilities that could integrate smoothly with their existing technology stack.
What we did
Sciopay used our comprehensive API solution to address each of their core challenges:
Robust API integration: Our API became the foundation of Sciopay’s payment infrastructure, enabling them to build a reliable payment offering.
Scalable architecture: We delivered the technical backbone to handle significant growth in transaction volumes whilst maintaining system performance.
Optimised settlement: Our infrastructure resolved their settlement time issues, enabling faster processing and improved customer experience across all transactions.
Partnership approach: It’s a not so hidden benefit of working with IFX. Our team worked directly with Sciopay to solve specific customer problems and requirements, providing ongoing support throughout their scaling journey.
The big wins
The partnership has delivered exceptional results that speak for themselves:
£3 billion processed: Sciopay has successfully processed over £3 billion in cross-border payments since partnering with IFX, demonstrating the robustness and reliability of our integrated solution.
Dramatic scalability improvement: Our API integration enabled Sciopay to significantly increase their processing capacity, supporting their rapid growth over the past 12-18 months without system constraints.
Uncompromising reliability: The partnership created a payment infrastructure that both Sciopay and their customers can depend on for critical business operations, with no compromise on performance.
What they’re saying
“IFX really stands out for us with their service and willingness to go above and beyond to solve our problems.” – Saqib Mirza, Co-founder, Sciopay
When asked to sum up the partnership, Saqib put it perfectly: Working with IFX is “collaborative, seamless and trustworthy.” He also highlighted how “the team are willing to work hand-in-hand with you to solve and address your customers’ problems.”
Watch the video above to hear from him directly.
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