Company Information

Get to know Somapay Digital Bank

Founded in 2015 and headquartered in Fortaleza, Brazil, Somapay operates as a Payment Institution authorized by the Central Bank of Brazil. The company's mission is to simplify corporate financial management by offering a complete digital ecosystem for businesses and their employees. Its core services include digital accounts, payroll processing, salary advances, corporate benefit cards (Soma Multi), and automated payment solutions (via PIX and other methods), aiming to reduce bureaucracy and operational costs for its corporate clients while providing financial services to their workforce.

Industry

Financial BankingPRIMARY
Financial Other Service

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Somapay Digital Bank

Brazil

Founded in

2014 (12 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Cyprus

2017

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.