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OpenPayd rolls out InstantFX to offer real-time FX

Tuesday 27 October 2020 14:18 CET | News

API-led BaaS provider OpenPayd has launched InstantFX, its FX-as-a-Service product that provides clients with real-time trading, putting an end to the need for batch processing.

OpenPayd customers will gain the ability to offer automated mid-market spot rates in 18 currencies delivered either through a web front end or an API for full integration. Clients can hold funds in a currency wallet and pay out these currencies through a number of payment networks, including FPS, CHAPS, SEPA, and SEPA INSTANT. In an update scheduled to roll out before the end of 2020, InstantFX will also add real-time settlement, plus the ability to pay out USD via SWIFT, ACH, and Wire.

Thanks to OpenPayd’s global network of partners, InstantFX offers a range of payment corridors, including access to UAE, Saudi Arabia, and Mexico. InstantFX is delivered through OpenPayd’s Banking-as-a-Service platform and can be integrated with clients’ existing technology through an API, according to the official press release.


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Keywords: OpenPayd, InstantFX, real time, FX, FX-as-a-Service, API, BaaS, FPS, CHAPS, SEPA, SEPA INSTANT, SWIFT, ACH, Wire
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech