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Synapse launches Global Cash account solution for international fintechs

Wednesday 25 May 2022 11:26 CET | News

Global banking-as-a-service (BaaS) platform Synapse has announced the launch of Global Cash, a secure cash management account product that enables residents from over 35 countries to invest and hold US dollars.

Global Cash allows US-based fintechs to expand their market reach by simplifying the onboarding of international customers through easy compliance mechanisms. The new account solution allows fintechs abroad to virtually access their US-based account features anywhere, providing increased flexibility and new investment opportunities. 

Global Cash aims to reach out to the over 1.7 billion underbanked adults worldwide, including freelancers, influencers, and gamers who experience difficulties getting paid outside the US. The new solution provides popular features such as bank-to-bank transfers, virtual account numbers for direct debit and credit, bill-pay, debit cards, ATM access, and international transfers to cater to the needs of the gig-economy global employees. 

Clients who opt for Global Cash can receive payments in USD, make international purchases, invest in global markets, access family financial services across borders, and make transfers and currency exchanges without worrying about hyperinflation, instability, negative interest rates, and high operational costs usually attributed to cross-border payments.

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Keywords: product launch, cross-border payments, interest rate, online payments, payment processing, financial inclusion, financial services, BaaS, gig economy, digital onboarding
Categories: Payments & Commerce
Companies: Global Cash, Synapse
Countries: World
This article is part of category

Payments & Commerce

Global Cash

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Synapse

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