Pay and get paid faster when you use
Payco for Letters of Credit
Payco for Letters of Credit
Protected by international law
Letters of Credit (LC) issued by Payco follow legally binding trade rules which protect the rights of the buyer and seller.
Faster processing than a bank
Using artificial intelligence, we've automated operations and reduced LC processing speed from days to minutes.
Lower fees than anywhere else
Our LCs support using stable cryptocurrencies to settle transactions faster, cheaper, and more securely.
1
Importer applies for a Letter of CreditUsing our simple online wizard, you can create a compliant LC in less than 10 minutes. Payco integrates with your accounting software so you can use existing invoices to create new LCs.
2-4 days
Time to create Traditional LC
10 mins
Time to create Payco LC
2
Payco sends Letter of Credit to exporterSwiss-issued tech-based LCs are 3x cheaper on average than traditional LCs, do not require expensive LC confirmations, and are backward compatible with the existing SWIFT network.
10-12%
Average LC fee
3-5%
Payco LC fee
3
Exporter presents documents to PaycoWe're using artificial intelligence to speed up LC processing time from days to minutes. Exporters can upload the required LC documents at anytime and from anywhere with AI assisted review.
1-2 days
Time to process Traditional LC
5 mins
Time to process Payco LC
4
Payco transfers payment to exporterOnce Payco accepts the documents, the LC payment is transferred to the exporter. Payco LCs have faster settlement times, lower transaction costs, and are more secure than traditional LCs.
2-4 days
Time to receive wire transfer
1 min
Time to receive stablecoins
Contact us to explore how our services can accelerate your business operations