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PayDo Services Explained — A Guide for Businesses 

PayDo Services Explained — A Guide for Businesses 
Marko Marjanovic

PayDo is a payment service platform catering to individuals and businesses alike. In this brief guide, we’ll go over its account options and explain its service, with a particular focus on the business aspect of things.

What is PayDo, and how does it work?

PayDo is a payment platform designed to simplify payment processes by allowing users to create personal, business, and merchant multicurrency accounts with just one digital contract.

As an officially authorized partner of MasterCard and Visa processors, PayDo provides each client with a dedicated European IBAN upon account registration. It contains essential details such as their name or business name. 

PayDo offers users the flexibility to use nine different payment schemes:

  1. SWIFT
  2. SEPA
  3. SEPA Instant
  4. Faster Payments
  5. TARGET2
  6. Fedwire
  7. BACS
  8. CHAPS
  9. Kronos

Additionally, the platform supports transactions in 24 different currencies, including EUR, USD, GBP, CAD, AUD, CHF, DKK, PLN, NOK, SEK, CZK, HUF, RON, BGN, BHD, AED, CNY, HKD, ILS, JPY, MXN, SGD, TRY, and ZAR. This multicurrency capability is one of PayDo’s unique advantages. As a client, you get global outreach and help your customers pay in the currencies they are used to.

Partnering with Mastercard, and soon Visa as well as American Express, PayDo complies with the PCI DSS security standard, ensuring the platform’s legality and sustainability by meeting all requirements for securing payment processes, including data transfer and payer information processing.

To learn about the platform in-depth, read our general PayDo review.

PayDo account options

As mentioned, PayDo offers European IBAN details for individual users, customized for EUR payments, with their names used either as the sender or recipient of funds. However, the platform also provides multi-currency IBAN details without personal data.

Businesses, on the other hand, will also have two other options:

  1. PayDo Business Account;
  2. PayDo Merchant Account.

PayDo’s business clients will soon have the option to order Mastercard or Visa cards (both physical and virtual) under their company’s name. These corporate debit cards will help the holder manage regular payments for online tools used by software engineers, facilitate payments for advertising campaigns to promote products, and enable companies to pay employee salaries and engage in smart budgeting strategies.

1. PayDo Business Account

Corporate clients can also receive dedicated European IBAN details with their company name designated for both sending and receiving payments. Additionally, business clients can open additional pooled multicurrency IBAN accounts that do not require corporate data.

2. PayDo Merchant Account

Having a business account provides the owner with the opportunity to set up a merchant account, enabling various payment acceptance methods from clients. Eligible UK companies can access direct merchant accounts with UK acquirers.

Although PayDo accommodates most business models, certain conditions may apply to specific types of businesses. Integration is simplified through APIs (Hosted Page or Server to Server) or via popular eCommerce platform plugins (such as WooCommerce WordPress, PrestaShop, Opencart 3.0+/v2.3).

For businesses that don’t meet eligibility criteria, PayDo checkout serves as an alternative. However, it’s essential to remember that a PayDo Business account must be approved and operational before applying for a UK merchant account.

PayDo business services

PayDo offers several payment services for business and merchant account holders available within the same dashboard. Those include:

  1. Multicurrency payments;
  2. Merchant solutions;
  3. Mass payments.

1. Multi Currency payments

Opening a multicurrency business account can be costly due to additional charges for each currency or payment method. Additionally, with traditional banks, extensive documentation and verification processes make it rather time-consuming, as each country has its own regulations. Managing payments with different manufacturers and suppliers can thus be complicated due to different payment methods and pricing structures.

PayDo offers a solution by providing a multicurrency business account with a dedicated IBAN, allowing for high-risk transfers and global payments in multiple currencies. PayDo simplifies the documentation process and provides fast verification (up to five business days).

As a result, PayDo enables e-commerce businesses to flexibly choose between manufacturers and suppliers from different countries, offering nine payment schemes and 24 currencies to conduct business internationally.

2. Merchant solutions

A merchant account is not a traditional bank account — it’s a relationship with an acquiring bank that lends you money from transactions without accounting for commissions. This allows for faster payments, as the issuing banks send payments to acquiring banks much later.

PayDo merchant accounts offer several benefits. Firstly, they increase sales as non-cash transactions are nearly 10 times more common than cash transactions. Accepting cards can lead to larger and more impulsive purchases, increasing your sales volumes.

Secondly, they provide faster payments. Card payments are authorized within seconds, and funds are typically received within two business days, whereas checks can take up to 30 days to clear.

Thirdly, they contribute to customer satisfaction. Offering multiple payment methods like gift cards, cash, and debit cards gives customers flexibility and convenience, leading to increased satisfaction and loyalty.

Moreover, With PayDo, you can issue invoices and accept payments from debit and credit cards, providing convenience for both you and your customers.

Lastly, merchant accounts prioritize security. They adhere to the PCI DSS security standard, ensuring that customer data is protected. Compliance with these standards is crucial to avoid penalties or bans on your business.

3. Mass payments

PayDo’s mass payment service facilitates multiple payouts. By integrating via API, businesses can manage payouts directly from their websites, making it ideal for distributing salaries, paying freelancers, and handling contractor services. Users can send funds to hundreds of PayDo accounts with a single click, whether from the PayDo Business dashboard or their CRM systems. 

With the mass payment service, users can send money to hundreds of PayDo eWallets in just one click. This is beneficial for distributing salaries, paying freelance workers, covering contractor services, and sending balances to website clients. Moreover, users can also make payments from their PayDo Business dashboard or directly from their corporate CRM via API integration.

PayDo also provides a comprehensive payment processing solution specifically designed for Forex. It offers a scalable infrastructure for international transactions and multiple currencies. 

PayDo Mass Payments. Source: PayDo YouTube channel


PayDo provides a wide range of payment services for both individuals and businesses. As a trusted partner of significant card processors like Mastercard and soon Visa, PayDo issues each client a dedicated European IBAN for easy fund transfers. Supporting various payment methods such as SEPA, TARGET2, and SWIFT, PayDo offers flexible fee structures for international payments, serving clients across the EU and worldwide.

For businesses, PayDo offers tailored services within a single platform. Multicurrency payments facilitate transactions in multiple currencies, simplifying international business. Merchant solutions enhance payment speed, increase sales, and improve customer satisfaction by offering various payment methods and streamlined invoicing. The mass payment service also allows businesses to manage multiple payouts to PayDo clients efficiently, which is ideal for salaries, freelancers, and contractor payments.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

PayDo FAQs

What kind of accounts can you open at PayDo?

PayDo offers personal, business, and merchant accounts.

Can I open a PayDo account for free?

Yes, opening a PayDo account is free. 

What do clients say about PayDo?

Overall, PayDo has received positive reviews. While there is still room for improvement, the majority of PayDo reviews have been positive.

What are PayDo fees like?

At PayDo, fees are tailored for both personal and business accounts. Personal user fees for Monthly IBAN, SEPA, and SWIFT transfers, as well as transfers between PayDo accounts and currency exchanges, are dependent on your country of residence. Business account fees also differ based on factors such as the country of incorporation, industry, age of the business, and projected monthly turnover volume. 

To learn about PayDo’s safety protocols, you can check out our dedicated guide on the platform’s safety.

What countries is PayDo available in?

PayDo is available worldwide in countries such as the United Kingdom, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.

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