Klarpay expands range of international payment transactions

Tuesday 15 November 2022 12:48 CET | News

Switzerland-based Klarpay has announced an expansion of its international payment functions with the launch of USD and GBP Accounts. 


Klarpay is a leading fintech providing online businesses with access to multi-currency IBAN accounts, global payment acceptance, and digital payout solutions. The fintech’s goal is to empower digital businesses through borderless and scalable business accounts and payment solutions. Klarpay is a deposit-taking credit institution licensed and regulated by the Swiss Financial Market Supervisory Authority (FINMA) in accordance with Article 1b of the Swiss Banking Act.

Expansion of accounts

The expansion would enable digital businesses such as online retailers, marketplaces, and influencers to receive and distribute USD and GBP payments internationally through their corporate Klarpay account. Businesses using Klarpay's Swiss IBAN accounts may trade through SEPA and SWIFT in over 90 countries and 70+ currencies via its dashboard and APIs. Klarpay's international accounts are designed for businesses that wish to expand worldwide through cross-border transactions.

Switzerland-based Klarpay has announced an expansion of its international payment functions with the launch of USD and GBP Accounts.

According to a Klarpay representative, the addition of dedicated USD and GBP accounts to the company’s list of services opens new doors for their merchant clients. In addition to using Klarpay's cross-currency payments and FX network, customers may now hold money, receive payments, and issue payouts in USD and GBP. Klarpay provides safe cross-border payments and FX capabilities, as well as the ability for its merchant clients to manage their cross-border transactions via Klarpay's all-in-one dashboard or API.

Klarpay business accounts

With Klarpay’s virtual IBANs, businesses can accept and assign as many dedicated IBAN numbers and they need to individual customers to simplify reconciliation. The fintech therefore also offers real-time transaction monitoring to ensure the safety of transfers. In order to further ensure security, a 2-factor authentication is required to access the platform. Additionally, ​​security and compliance specialists ensure that the platform, infrastructure, and data flow remains secure.

Previous addition of currencies

In August 2022, Klarpay added 70+ currencies for cross-border payments. The fintech announced the integration of Visa’s B2B Connect product into its services. This enables Klarpay's corporate clients to make cross-currency outbound payments from Klarpay accounts to a wide range of countries and currencies.

Klarpay provides a single connection via which businesses can send money straight to a recipient's bank account. At the same time, it gives businesses complete insight into incurred costs and applicable exchange rates.

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Keywords: expansion, product upgrade, cross-border payments, payment processing
Categories: Banking & Fintech
Companies: Klarpay
Countries: Germany
This article is part of category

Banking & Fintech


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