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Saving resources and legal fees with Payments

Founded in 2012, Checkout.com is a fast-growing API-based platform providing online payment solutions. It operates from 19 global offices with over 1,700 employees.Ìý

Its technology helps fintech customers simplify the payment process resulting in seamless, faster and more reliable transactions in 150+ currencies, whilst also providing complete transparency of payments data. Checkout.com’s clients gain deep insights into their processes helping to unlock new opportunities and revenue streams.Ìý

Difficulties monitoring change

As Checkout.com’s business grew, keeping on top of legislative changes in all the territories it serves was become significantly time consuming and costly. Checkout.com relied on professional networks and law firms for its information but found limitations in the scope required..

Finding a robust, reliable, timely and cost-efficient way to monitor changes in global regulations and markets became of the utmost importance. Checkout.com needed to find efficiencies in developing its strategy to better serve its clients and be confident in meeting all relevant regulatory requirements for its global business.Ìý

The ÌìÑĺ£½ÇÉçÇø Advantage

By partnering with ÌìÑĺ£½ÇÉçÇø, Checkout.com benefited from our solution’s real-time information and actionable insights into trends, issues and regulatory change. allowing it to be more proactive and able to help its clients become more operationally resilient in their payment processes.

Some of the service features that Checkout.com has found particularly helpful include:Ìý

• Horizon Scanning – comprehensive coverage and organised tracking of regulatory changes in set jurisdictions, allowing Checkout.com to spot opportunities, adapt and mitigate risk ensuring they are meeting its obligations
• Horizon Scanning Customised alerts – Checkout.com receives alerts as relevant events occur, keeping them abreast of changes as they happenÌý
• Daily Insights – changes in regulatory compliance are sourced and brought together each day for focused review
• Country guides – information on specific countries which are translated into English to facilitate understanding of that jurisdiction’s regulatory framework whether for currentÌý territories or potential new markets.

Prior to implementing ÌìÑĺ£½ÇÉçÇø’s payments solution, Checkout.com spent 20% of its full-time employees’ hours on compliance research. Now with ÌìÑĺ£½ÇÉçÇø fulfilling this workflow process, it has been able to deploy ¾ of those hours to more strategic analysis and decision-making. With its processes better streamlined, Checkout.com has substantial reduced its reliance on outside counsel resulting in a significant saving in legal fees.