DynaPay partners Banking Circle to facilitate cross-border payments

Wednesday 28 April 2021 13:27 CET | News

DynaPay has selected Banking Circle to help it deliver fast and secure payment solutions for SMEs transacting globally and in multiple currencies.

According to the press release, DynaPay is an FCA regulated European fintech solutions provider serving ecommerce, travel, and other business clients across the UK and EU/EEA. Through the partnership, Banking Circle is providing DynaPay with Virtual IBAN accounts to enable local payments and collections across borders. By making payments ‘feel local’, Banking Circle is removing the need for DynaPay to have a physical presence in each country in which its customers operate, yet delivers payment costs comparable to those of local banks in the region. 

Furthermore, thanks to Banking Circle Virtual IBAN, DynaPay is increasing the currencies available to its corporate clients and reducing the cost of FX.B anking Circle Virtual IBAN gives financial institutions such as DynaPay the ability to issue multicurrency IBANs in their customer’s name and in multiple jurisdictions. 

This enables merchants to make and accept cross-border payments in different currencies, in a way that traditional banks would simply not facilitate due to risk and legacy systems limitations. Its payment rails offer direct real time payments in over 25 major currencies via SWIFT including direct local clearing systems covering CHF, CZK, DKK, EUR, GBP, HRK, HUF, NOK, PLN, RON, SEK, and SGD. 

Additionally, Banking Circle also offers 12 local payment channels across Eastern Europe & Nordics, instant payment notifications, and treasury management. 

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Keywords: Banking Circle, partnership, cross-border payments, online payments, Virtual IBAN
Categories: Payments & Commerce
Countries: World
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