OpenPayd rolls out InstantFX to offer real-time FX

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.