Frequently asked questions

Why use Payr?

Simply put, we think it seems counterproductive that insurers have to pay more to save more. Payr regularly achieves over 20% in cost savings on medical expenses, and we don’t charge insurers a percentage of the amount we save them. Instead, clients are charged one small fixed fee. In addition, we believe that cost containment should be transparent and easy to understand. Through a combination of smart thinking and smarter technology - we have created a solution that pays medical bills and travel related expenses abroad - faster, safer, easier and cheaper than ever before.

How does Payr work?

Payr has accounts around the world, linked by smart technology, enabling us to hold, pay and receive 75+ currencies - and facilitate payments in 120+ countries. You pay into our account in your country and currency, and we pay from our account in their country, in their currency. No money crosses any borders.

How safe is Payr?

Payr is extremely safe and secure. We use bank-level encryption, security practices and blockchain technology. Payr also also uses HTTPS encryption, and is set-up as a read-only platform with two-factor authentication to protect all transactions. In addition, all communications are conducted using secure encryption apps integrated into our system.

How does Payr calculate exchange rates?

We use the real mid market exchange rate just like you will find on Banks and other providers often set their own, unfriendly rates - essentially meaning that you will pay more. We will never mark up the exchange rate. You will always be charged the mid market exchange rate which essentially is the live rate between 'supply' and 'demand' at which traders are willing to 'buy' and 'sell.'

What currencies does Payr facilitate?

For a list of all currencies we can pay in, please click here >>

How does Payr keep fees so low?

We have worked hard to find solutions to reduce our fees - and instead of pocketing the extra money, we have passed these savings on to our clients. We are a fully remote company, meaning that we have no major overheads - and through the power of financial technology and artificial intelligence - we have significantly reduced our staffing costs compared to a traditional business model. Of course, we also don't pay currency exchange rates and by holding funds in each account, we also don't pay bank fees. All of this is good news for our clients. LESS FEES.

What is the Payr €100,000 bond?

We pledge to cover up to €100,000, equivalent to the FSCS deposit and savings guarantee, because we know how safe you are with Payr. We use 256-bit encryption and our security practices are equal to those of your bank. €100,000 tells you that we match your bank on security, but we beat them on everything else.

How does Payr compare to other providers?

In a recent complex case, a medical bill in Mexico City totalled $116,000 USD. Though a combination of case volumes that Payr has with this provider, the art of negotiation, and the fact that we can pay in local currency - we were able to reduce this amount by 26% to the equivelant of $85,840 USD. If the insurer had paid through their former provider, it would have cost them $5,428 (18% of the amount saved). With Payr, it cost just $400 USD. Payr will never charge a percentage of the amount we save you. Just one small fixed-fee.

How does Payr MasterCard® work?

Payr retains trusted ground agents in 50+ countries who all carry Payr MasterCard® cards. When required, our team can instantly transfer funds onto a card, in local currency, and the funds can be used to pay medical bills, hotel and transportation bills, flights, legal fees and can even be used to withdraw money for travellers to use as emergency funds. In addition, our team can also provide instant credit card payments over the telephone via the Payr MasterCard®.










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Payr is registered in England and Wales as Payr Ltd. (No. 12107043) Suite 2433, 601 International House, 223 Regent Street, London, United Kingdom, W1B 2QD.

MasterCard® and the circles design are registered trademarks of MasterCard International Inc.


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