Luo

Luo (LuoPay) operates an online platform through which businesses in emerging markets, specifically African markets, can make international payments in foreign currencies. Customers convert their local currency into euros or US dollars and pay suppliers anywhere in the world. The site markets coverage of Senegal, Ivory Coast and Cameroon, and displays XOF (CFA franc) as a source currency; the terms and conditions state the service allows Senegalese and Ivorian companies to pay their suppliers abroad [0][1][2].

The product is positioned as a self-service, centralized workspace where corporate customers execute international payments, request quotations and track balances in real time. The advertised workflow has three steps: online registration on the platform in about 15 minutes, creation of a transaction with a quote returned in under a minute (elsewhere on the site stated as within 15 minutes), and payment of the supplier within 24 hours with automatic delivery of a SWIFT proof of payment. The company also advertises a local customer service team available 24/7 via support email and WhatsApp [0][1].

The contracting entity for the service is LuoPay Canada LTD, a company registered under the laws of Ontario (Ontario Corporation Number 1000992314) with a head office in Toronto, Canada. It is described as registered with FINTRAC and the Bank of Canada as a money services business under MSB number C100000446, authorized to provide currency exchange and payment services, and it lists a SWIFT/BIC code of LUOCCA22. The terms and conditions also reference a LUOPAY SAS entity [0][1][2].