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Overview
IFX Payments is a financial service provider that has built its own FX and payments infrastructure to offer clients quick, secure, and cost-effective solutions. Whether it’s a single transfer or an international payroll run, IFX Payments provides global cross-border payment solutions designed to save customers time and money. Crassula is currently integrating IFX Payments to enhance its banking and payment solutions for clients.
Default currencies
-
EUR (Euro)
-
GBP (British Pound Sterling)
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USD (US Dollar)
Supported regions
IFX Payments supports all regions where SEPA, UK local transfers (FPS), and SWIFT payments are accepted.
Prerequisites
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KYC/KYB Procedures: Customers must complete KYC/KYB verification using SumSub.
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Monthly Turnover Information: Collected via a questionnaire.
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Account Creation: Initiated manually or upon client request after KYC/KYB completion.
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Profile Activation: Mandatory profile fields must be filled to activate accounts.
Additional materials
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Website: IFX Payments
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API Documentation: Ibanq Connect API
Products and Services
The following table summarizes the functionality implemented with IFX:
|
Name |
Supported (Yes/No) |
|---|---|
|
Accounts |
Yes |
|
Virtual accounts |
Yes |
|
IBAN generation |
Yes |
|
Private accounts |
Yes |
|
Business accounts |
Yes |
|
Multi-currency Accounts |
Yes |
|
Mono-currency Accounts |
Yes |
|
SEPA Credit Transfer (SCT) |
Yes |
|
SEPA Instant (EUR-3) |
No |
|
Target2 (EUR-1) |
No |
|
SWIFT |
Yes |
|
Direct Debit (BACS, SEPA) |
No |
|
CHAPS (UK) |
No |
|
Faster Payments (UK) |
Yes |
|
BACS (UK), incoming only |
No |
|
ACH (Automated Clearing House) |
No |
|
Fedwire (Local USA payments in USD) |
No |
|
Intraday Payment (DKK) |
No |
|
FX orders and rates |
No |
|
Interledger |
No |
|
Refunds (incoming, outgoing) |
No |
|
Bank transfers (Dynamic payments) |
No |
|
Convert & Send |
No |
|
CoP (Confirmation of payee) |
No |
|
Provider dashboard |
Yes |