Company Information and Credibility
Paymentearth itself is a very small entity, with only around 10 employees in their single-office (San Diego). The company was founded only 4 years ago in 2016, but that doesn’t tell the whole story. Its CEO and President, Jeff Scanlon, has been in the foreign exchange industry since 1989 — an impressively long time, which can only add to Paymentearth’s credibility.
Prior to founding Paymentearth in 2016, Jeff had been working at the foreign exchange brokerage Commonwealth Foreign Exchange, sowing the foundations of knowledge in FX forwards and hedging. Most importantly understanding how these products can be a great fit for SMEs and individuals too.
As part of its senior management team, Paymentearth has a Blockchain specialist, perhaps indicating the firm’s focus on technology and innovation. And in this regard, despite being a small business itself, it doesn’t appear to stand still as in its quest to expand its footprint and product capabilities.
In 2019, the firm announced its expansion and regulatory approval in the states of Tennessee and Georgia. In 2020, Paymentearth announced the release of its Virtuwallet and IBAN solution. Providing customers with an online dashboard to access up to 28 digital currency accounts, where they can hold balances, receive incoming payments and convert these funds into USD. Note that you can’t make payments from your digital accounts but you can hold balances to net off against future exposure. If you’re looking for a digital account where you can both receive and make international payments then you should look to Transferwise or WorldFirst.
PE Global Partners LLC DBA Paymentearth Program is sponsored by Community Federal Savings Bank, though in some states they are a licensed money transmitter.
MSB licenses are held in various states: DC, FL, GA, ID, IL, LA, MD, MA, MN, MS, MT, NJ, NC, OK, PA, RI, TN, VT, VA, WA, WI
“PE Global Partners is registered with FinCEN. Our registration number is 31000126701006”. say the website
Paymentearth is a licensed money transmitter and is listed on NMLS
Jeff Scanlon, founder of Paymentearth and CEO, has spent his entire career working for non-bank international payment providers. The firm also seems to adhere to all of the required regulations for the states in which it operates as a money transmitter. Other than that, there’s not much else we can say positively about the site’s reputation and credibility.