Frequently Asked Questions

LEMFT is a MSB (Money Services Business) institution registered in Canada. LEMFT is a platform that provides VA accounts for global payments and virtual card services. We offer an easy-to-use SaaS platform, where customers can make payments or generate virtual cards directly based on their needs; or seamlessly integrate with your existing platform via our RestAPI.

If you are looking for a service provider with flexible global payment and virtual card services, or require virtual card services to integrate with your existing platform via API, LEMFT will be the a great fit for you.

LEMFT only provides services to business clients.

LEMFT is not a bank. We are a fintech company that works with licensed financial institutions and uses our proprietary technology platform to provide customers with more convenient and efficient payment and expense management experience.

LEMFT is not a bank and does not offer credit lines. All our services are prepay-based, meaning you can only spend within the amount you have prepaid.

Virtual cards are used in the same way as regular credit cards, except they do not have a physical card. You can make online payments using the card number, expiration date, CVV, and other relevant information.

Virtual cards are managed by card organizations such as VISA and Mastercard and issued through banks or licensed financial institutions. LEMFT's virtual cards are issued in collaboration with licensed financial institutions and are designed for business spendings.

The advantage of LEMFT's virtual cards over traditional credit cards is that they can be issued and used instantly, the spending limit is capped by the prepaid amount, and they can be instantly terminated at the click of a button. Our virtual card are supported by services such as Apple Pay and Google Pay.

At LEMFT, we have implemented multiple security measures to protect your funds, and we are SOC Type II compliant.

We also employ methods like SSO account protection and data encryption to safeguard your personal information.

LEMFT has a robust technical team to provide support for API clients. If you need technical assistance, please send an email to contact@lemft.com with your issues or requests with your contact information, and our technical team will get back to you as soon as possible.

Cashback amount for the previous calendar month is generally calculated and settled during the subsequent month and is credited to your account wallet.

You can sign up with an email address and complete the KYC process to start using LEMFT's services.

Currently, LEMFT cannot provide services to clients from the following countries:

• Afghanistan
• Central African Republic
• The Democratic Republic of the Congo
• Islamic Republic of Iran
• Liberia
• Nicaragua
• Mariana islands in Pacific
• Somalia
• Samoa
• Syrian Arab Republic
• Venezuela
• Belarus
• Cuba
• Guam
• Côte d'Ivoire
• Iraq
• Libyan Arab Jamahiriya
• Democratic People's Republic of Korea
• Sudan
• Ukraine
• Yemen
• Burundi
• Republic of the Congo
• Lebanon
• Myanmar
• Russian Federation
• South Sudan
• Zimbabwe
• China (Mainland)

Currently, LEMFT only has a web platform.

LEMFT offers local payout services for multiple countries globally and provides virtual cards for online payments, supplemented by flexible API connectivity.

LEMFT supports balance refunds. Please contact your account manager for assistance.

LEMFT's API already has a wide range of features. If you have customization needs, please contact your account manager, and our technical team will analyze your requirements.

Know Your Customer (KYC) / Know Your Business (KYB) is an identity verification process that fintech companies like LEMFT or financial institutions must complete before providing financial services to customers. The primary goal is to meet internationally recognized anti-money laundering (AML) regulations and compliance requirements to prevent financial fraud and crime.

Typically, KYC/KYB verification takes 1-3 business days.

Please send an email to contact@lemft.com with your issues or requests with your contact information, and we will get back to you as soon as possible.