Turning settlement receivables into auditable assets.
Korean merchants wait a week or more for card settlements that have already cleared. We pay them upfront, and the payment gateway settles directly into a controlled account. Institutional capital funds it, because every step is verifiable.
The problem
The gap is not capital. It is verifiable control.
Settlement receivables are short-dated and visible in the payment ledger, which should make them good collateral. In practice institutional investors cannot underwrite them, because three questions have no independent answer.
Does it exist?
A receivable claimed on a spreadsheet is not a receivable confirmed in the gateway's ledger.
Was it sold twice?
Without a registry of assignments, the same claim can be financed more than once.
Where does the cash land?
If collections pass through the originator's account, the investor holds credit risk it never priced.
How it works
One transaction, one vehicle, one closed loop.
Each deal is funded through its own special purpose vehicle. Collections are never reinvested and never touch our operating account. When the receivables are collected and distributed, the vehicle is wound down.
- 01OnboardingMerchant identity, contracts, accounts and consents are verified and retained.
- 02IdentificationEach receivable is pinned to an immutable key with amount, payout date and status.
- 03Duplicate checkThe assignment registry is checked before any funds move, not after.
- 04PurchaseThe vehicle pays the merchant directly, at a discount taken upfront. No back-end fees.
- 05PerfectionAssignment is noticed to the debtor so the transfer holds against third parties.
- 06CollectionThe gateway settles into a trust-controlled account we cannot draw on at will.
- 07ReconciliationGateway ledger, receivable ledger and bank deposits are matched to T+1, then distributed by waterfall.
The platform
Controls that run as software, not as promises.
Our investor's covenants are not aspirations written into a memo. Each one is a system requirement with a measurable state, and a breach halts execution rather than generating an email.
- Zero duplicate assignments, checked before purchase
- Zero collections outside the controlled account
- Three-way reconciliation to T+1, exceptions closed with evidence and an approver
- Concentration limits recalculated daily
- Daily borrowing base with full calculation lineage
- Monthly investor reporting traceable to source transactions
- Every state change attributable to a person and a timestamp
- Underwriting decisions recorded with the inputs that produced them
Position
Originator and servicer.
SuriPay originates, verifies and services. We are not a lender, a payment gateway, a trustee, or an issuer of investment products. Funding sits with the vehicle, custody sits with a licensed institution, and settlement sits with the gateway. Our contribution is the operating system that makes the whole structure legible to the people funding it.