banking services, cross-border payment solutions Multipass Platforms Limited is an electronic money institution focused on providing a banking alternative for businesses with international payment needs. MultiPass is a part of DYNINNO Group that provide in-house IT solutions, lead generation and sales to brands operating in more than 50 markets worldwide. MultiPass offers dedicated multicurrency IBANs for businesses, local UK, EU and US accounts, instant FX service and corporate cards. In 2022 MultiPass Platforms Limited had total assets of 2.94 mln GBP, and generated net income of -1,768,408.00 GBP. During 2022 the company had 41 employees in average. Multipass Platforms Limited is authorised by the Financial Conduct Authority (FRN: 900840). MultiPass Platforms is ranked #4 EMI in the United Kingdom.
Canada
Gibraltar
Hong Kong
Singapore
Switzerland
United Arab Emirates
United KingdomBetter than your bank account
Single account to meet all your business needs
Multiple payment methods to transact in 200+ countries, high-speed payments in the UK, Europe and USA
Send, receive, convert and hold money in over 70 currencies
Bank-beating exchange rates
Dedicated account manager
Onboarding assistance
24/7 customer service
(*)as stated by the company itself
13 August 2024, by Anna Mileiko
TheBanks.eu has developed a proprietary methodology to assign ratings to payment institutions based on their operating environment, company background, business model, market niche, product range, transparency, customer support and customer sentiment. According to the methodology, MultiPass Platforms Limited is assigned the overall rating 4.64 (excellent) which is explained in details below.
| Overall Rank | #4 EMI in the UNITED KINGDOM | |
|---|---|---|
| Operating Environment | Very Friendly | (4.81) |
| Product Range | Average | (3.05) |
| Market Niche | Broad | (4.18) |
| Company Background | Strong | (3.91) |
| Customer Support | Excellent | (4.56) |
| Customer Sentiment | Excellent | (4.59) |
| Transparency | Very High | (4.94) |
| Overall Rating | Excellent | (4.64) |
TheBanks.eu has also identified the following pros and cons of the company:
Make and receive payments globally in 30+ currencies
Same-day payments in the UK, Europe, USA, China and EMEA
Local payouts in 20 markets
Virtual and plastic payment cards to handle daily operations
Batch payments to reduce administrative workload
(*)as stated by the company itself
Business Payment Account is a multi-currency account, allowing the account holder to have funds in the following currencies:
GBP (Pound sterling)
EUR (Euro)
USD (US dollar)AED (UAE dirham)
ALL (Albanian lek)
ARS (Argentine peso)
AUD (Australian dollar)
BAM (Bosnia and Herzegovina convertible mark)
BBD (Barbadian Dollar)
BDT (Bangladeshi taka)
BGN (Bulgarian lev)
BHD (Bahraini Dinar)
BRL (Brazilian real)
BWP (Botswana Pula)CAD (Canadian dollar)CHF (Swiss franc)
CLP (Chilean peso)
CNY (Renminbi (Chinese) yuan)
COP (Colombian peso)
CZK (Czech koruna)
DKK (Danish krone)
FJD (Fijian Dollar)
GHS (Ghanaian Cedi)HKD (Hong Kong dollar)
HUF (Hungarian forint)
IDR (Indonesian rupiah)
ILS (Israeli shekels)
INR (Indian rupee)
JMD (Jamaican dollar)
JOD (Jordanian dinar)
JPY (Japanese yen)
KES (Kenyan Shilling)
KRW (South Korean won)
KWD (Kuwatiti Dinar)
LKR (Sri Lankan Rupee)
LSL (Lesotho Loti)
MAD (Moroccan Dirham)
MUR (Mauritian Rupee)
MWK (Malawian Kwacha)
MXN (Mexican peso)
MYR (Malaysian ringgit)
MZN (Mozambican Metical)
NAD (Namibian Dollar)
NOK (Norwegian krone)
NZD (New Zealand dollar)
OMR (Omani Rial)
PEN (Peruvian Nuevo Sol)
PGK (Papua New Guinea Kina)
PHP (Philippine peso)
PKR (Pakistani rupee)
PLN (Polish złoty)
QAR (Qatari Riyal)
RON (Romanian new leu)
SAR (Saudi riyal)
SEK (Swedish krona/kronor)SGD (Singapore dollar)
THB (Thai baht)
TND (Tunisian dinar)
TRY (Turkish lira)
TTD (Trinidad and Tobago dollar)
TWD (Taiwanese Dollar)
TZS (Tanzanian Shilling)
UGX (Ugandan Shilling)
UYU (Uruguayan Peso)
VND (Vietnamese Dong)
ZAR (South African rand)
ZMW (Zambian Kwacha)Up to 15 payment cards can be ordered together with Business Payment Account.
Dedicated IBANs assigned to Business Payment Account belong to the United Kingdom and several EU countries.
Business Payment Account is offered to companies registered in the UK, EEA and other countries mentioned above, non-European UBOs accepted (except for sanctioned countries).
Please note that the quote below serves as a guide. Actual costs will be determined based on your business industry, payment volumes and other factors.
MultiPass cards are prepaid cards, rather than debit cards.
Debit vs Prepaid Cards.Debit cards do not have a separate balance and are connected to an account ore-wallet. Such cards are loaded automatically when the account/e-wallet is being topped up.Prepaid cards have a separate balance from an account or e-wallet.These cards have to be loaded manually, usually from the account/e-wallet.
MultiPass cards are issued as both physical (plastic) and virtual cards; plastic cards are delivered to the customer's address.MultiPass Corporate Card is a single currency card, it can be issued either in EUR or in GBP.
EUR (Euro)GBP (Pound sterling)MultiPass Corporate Card can be funded after its activation, it has its own separate balance and should be topped up before spending funds. MultiPass Corporate Card can be funded from your MultiPass business account in seconds.
All MultiPass cards are 3D secure, meaning that the cardholder will sometimes be asked to verify online purchases with a 2FA verification code and a static password that the cardholder sets when ordering a card.
| Physical Card | Virtual Card | |
|---|---|---|
| Initial issuance & replacement | 12.00 EUR | free |
| Maintenance fee | 12.00 EUR | 12.00 EUR |
| In-store and online payments | free | free |
| Original Credit Transaction (Moneysend) | 6.00 EUR | 6.00 EUR |
| FX markup | 1.50 % | 1.50 % |
| ATM withdrawal | 1.50 % | n/a |
MultiPass Platforms is neither registered with the Financial Conduct Authority (FCA) as a crypro asset firm, nor offers any crypto assets services.
From January 2020, firms carrying out specific cryptoasset activities in the United Kingdom need to comply with the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs) and to register with the FCA.
MultiPass Platforms Limited is not registered with the FCA as a crypro asset firm.
MultiPass Platforms do not offer crypto assets services.
| GBP | 2021 | 2022 | change (%) |
|---|---|---|---|
| Total Assets | 976,002.00 | 2,937,220.00 | +200.94% |
| Turnover | 1,770,375.00 | 4,690,112.00 | +164.92% |
| Net Income | -1,127,982.00 | -1,768,408.00 | +56.78% |
| Rank | Name | Market % | Total Assets |
|---|---|---|---|
| 124 (+16) |  Privat 3 Money Ltd | 0.01 % | 70.96 mln GBP (+5,228.56%) |
| 125 (+26) | MultiPass Platforms Limited | 0.01 % | 2.94 mln GBP (+200.94%) |
| 126 (-4) |  OMNIO EMI LIMITED | 0.01 % | 2.87 mln GBP (+17.53%) |
United KingdomMultiPass Platforms Limited is authorized by the Financial Conduct Authority as a e-money institution (reference number 900840) for issuance of electronic money, placing cash to a payment account, withdrawing cash from a payment account, execution of payment transactions on a payment account (not covered by a credit line), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions, money remittance, execution of payment transactions via telecoms, IT system or network operator; the authorization was granted on 10 December 2018.
MultiPass Platforms Limited is not a bank, it can't collect deposits from public or loan out its clients’ money. Hence, it does not have to participate in deposit guarantee schemes. However, MultiPass Platforms is required to safeguard its customers’ money.
Since January 2021, MultiPass Platforms Limited can not conduct its activities in EEA member states.
MultiPass Platforms Limited is a SWIFT member and a SEPA (SCT, SCT Inst) scheme participant. MultiPass Platforms Limited also participates in CHAPS, Faster Payments.
MultiPass Platforms Limited is connected to MasterCard payment card scheme.
87-89 Baker St, W1U 6RJ, London, United Kingdom
+44 20 3519 1373EnglishMultiPass Platforms has profiles on the following social networks:
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