The integration with Currencycloud will provide SMEs with a multi-currency wallet with the ability to initially convert between EUR, GBP, USD, CHF, AUD, and NZD currencies anytime. Called the Global Wallet, customers will be able to open a multi-currency account with local and international account details in minutes and could be making international payments within 24 hours.
The functionality, speed, and flexibility of Currencycloud means that Quid can scale its global presence, can quickly expand the number of currency accounts they offer their customers, and take advantage of new opportunities faster.
Quid’s officials stated that their digital ecosystem is designed to reduce the time to market and let customers manage core areas of their business from a single platform. The multi-currency Global Wallet we have developed with Currencycloud is a key product in our ecosystem to support the success of any new business and facilitate easy payments for our customers in many regions globally.
Representatives from Currencycloud also said that small businesses are increasingly operating globally and there is a huge need to process international payments seamlessly and cost-effectively. The partnership between Quid and Currencycloud offers even the smallest of businesses the opportunity to do just that.
Currencycloud has become the preferred foreign exchange (FX) partner for fintech infrastructure platform, Integrated Finance. The latter helps businesses when it comes to building, expanding, and managing financial infrastructures, offering easy to integrate FX products for existing payment platforms. Apart from providing core banking solutions, the company has partnerships with financial services providers to offer a marketplace of pre-built integrations available via a single API.
Partnering up with Currencycloud and building on their infrastructure-as-a-service will allow Integrated Finance to offer their fintech customers access to Currencycloud benefits, enabling them to build cross-border payments and FX functionality into their platforms in a quick and easy manner. Additionally, this partnership will enable Currencycloud to leverage Integrated Finance’s platform and offer their existing users an additional, simplified financial infrastructure integration, such a Know Your Customer (KYC) and transaction monitoring, and provide a more efficient onboarding process for new customers from months to weeks.
Fintech Paysend has also partnered with Currencycloud to help SMEs reach new customers globally and control financials through Paysend Business.
The partnership with Currencycloud allows Paysend Business to offer SMEs an augmented and transparent way of making cross-border transactions. They can now move money across the globe to more than 180 countries without the hassle of setting up local bank accounts. Using Currencycloud’s APIs, Paysend Business’ SME clients can receive funds by SWIFT and collect and hold up to 34 currencies. They can seamlessly convert these funds back to the required currency at competitive FX rates.
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