“Our team had to manually investigate failed transfers caused by tiny input errors in the past. Now with iPiD, we catch these issues upfront—before money leaves the account. It’s seamless to users but incredibly impactful for the business.”
- Andrew Marchen, GM Payments, M-DAQ Global & Co-founder, Wallex
About
Wallex
Founded in 2016, Wallex (now M-DAQ Payment Solutions Pte. Ltd) is the leading FX and payments specialist for businesses transacting in Asia, empowering them to operate overseas confidently — with powerful cross-border solutions that deliver greater speed, support, and savings.
Customers are taking back control of their FX and payments processes through our robust and secure online platform – converting and paying in 47 currencies, collecting payments in 35 currencies via virtual, and holding funds in a wallet through the Wallex Global Business Account.
Wallex is a part of M-DAQ Global group of companies which is licensed in Singapore, Malaysia, Indonesia and Hong Kong, with a presence across Asia-Pacific. For more information, please visit www.wallex.asia.
Wallex, a leading FX and payments specialist in Asia, empowers businesses to move money globally with speed and confidence. As the volume of payments grow globally, ensuring that beneficiary information is accurate has become mission critical.
To prevent fraud and failed transactions, Wallex integrated iPiD Validate—a powerful API that verifies account holder names before any money moves.
The challenge
Before introducing the iPiD Validate API, small input errors—like spelling mistakes or incomplete names—caused frustrating delays. In many cases, users would copy account details directly from emails and submit transfers, only to have the transaction bounce back days later because the beneficiary name didn’t match exactly. These errors disrupted payment timelines and created poor customer experiences.
The solution
With iPiD Validate, every new beneficiary entered into Wallex is verified in real-time—without any extra step for the user. If the account name doesn’t match the account number, users are prompted to correct it before proceeding.
This seamless integration ensures higher trust, fewer errors, and smoother transactions.
Know your payee
While users enjoy a smooth, secure experience, Wallex teams gain peace of mind knowing that every new beneficiary is verified through one of the world’s most robust payee validation networks.
