Supporting Deel's global payments with PaySway
We're excited to announce that Deel, a leading global payroll, compliance, and HR platform, now uses PaySway's API to improve the processing of its domestic and international bank payments.
By implementing our solution, Deel has made its transfers even more reliable, along with streamlining the user experience for submitting banking details.
When every payment is essential
Deel processes salaries and contractor payouts for tens of thousands of companies worldwide. These aren't just transactions — people depend on these funds for housing, bills, and daily needs. Deel addresses this responsibility by having built one of the most sophisticated global payroll systems in the industry with unprecedented coverage. But even with the most advanced systems, the complexity of domestic and international banking rules, practices, and formats presents challenges. This is where our solution adds value — by helping Deel prevent payment issues in advance.
No margin for error
Global workforce payments of Deel's scale come with inherent complexities. Its sophisticated system supports nearly 600 combinations of countries, currencies, and transfer methods, and everything must be perfect for successful processing — there's no room for user input error, and all downstream payment providers (global banks, local institutions, and regional fintechs) must process transactions exactly as required. Any deviation in the process can result in delayed, failed, or stuck payments, affecting timely payouts to workers.
How exactly PaySway helps
To address these challenges, we've developed an API called Payment Preparation that handles the complexities of banking formats, validations, and routing:
- We check account numbers, bank identifiers, purpose codes, and everything in between against rules and practices for the right currency, country, payment scheme, and bank. This catches the issues before they cause failed or delayed transfers — and we tell what exactly is wrong.
- We transform the data (like addresses, payment routes, types of bank identifiers and account numbers) into the specific formats required by various financial institutions and add any necessary supplementary information so that local and international payments go through with minimal friction.
This results in:
- Reduced failures and faster transfers through comprehensive checks and optimized routing paths
- Cost savings through reduction in payment exceptions like investigations and manual interventions
- Better user experience with upfront validation and enrichment of banking details and clear, actionable error messages
Looking forward
We're excited to continue our work with Deel, with new features planned to further streamline bank payments globally.
Want to learn more about how PaySway can improve your payment operations? Schedule a conversation with us or email dmitry@paysway.io.