Placid Express risk score

Placid Net, established in 1996 and operating under the name Placid Express, is a prominent money transmitter based in New York, USA. The company specializes in providing efficient and cost-effective payment and transaction processing services. With a robust presence across major markets such as the United States, Canada, and Italy through an expanding network of agents, Placid Net ensures accessible services catering to diverse customer needs.

The company extends its services to encompass retail money transfers through branch offices strategically located in Malaysia. Moreover, through strategic partnerships, Placid Net is also accessible in Spain, the UK, and the UAE, embodying a truly global footprint in financial transactions. Initially offering services to over 30 countries by 2012, Placid Net has continued to broaden its horizons, significantly enhancing its portfolio to cover even more destinations through established correspondent relationships with leading banks and financial institutions.

An important milestone in its expansion was the acquisition of a license under the EU Payment Services Directive, propelling it into newer European markets such as France, Belgium, the UK, and Germany. This expansion underscores Placid Net's commitment to increasing its service accessibility and reliability across Europe.

In addition to direct money transfer services, Placid Net offers bespoke network usage and sharing services to other money transfer entities. The company's proprietary software platform, Transec, underpins these services, providing a secure and efficient framework for transaction processing.

Placid Net also operates through its fully-owned subsidiaries, Placid Express SRL in Italy and Placid Express Sdn Bhd in Malaysia, ensuring a seamless operation and local market integration. Complying with rigorous regulatory standards, Placid Net prioritizes customer data protection and transaction security, aligning with international compliance mandates to safeguard client interests effectively.