Skydo’s mission is to make international transactions similar to local ones by eliminating high costs and lengthy settlement periods. Its transparent flat-fee pricing model, featuring real-time exchange rates and zero processing fees, allows India’s fast-growing Small and Medium Business (SMB) exporters to save up to 80% on forex transaction costs, streamlining payments and boosting profitability.
Expanding global reach for Indian businesses
This collaboration with Banking Circle enables Skydo’s customers to offer their buyers in the UK and EU a broader range of local payment options. It also allows Skydo to expand its cross-border collection capabilities into new markets like Australia, aligning with Skydo's commitment to saving Indian businesses USD 1 billion in FX fees by 2027.
In a comment, executives from Skydo said their aim is to simplify cross-border payments, making them affordable, transparent, and fully compliant for Indian businesses, and this partnership with Banking Circle aligns with that goal. By leveraging Banking Circle’s global network, they can help more and more Indian businesses expand their operations globally.
Officials from Banking Cirlce replied that they are happy to support Skydo’s vision to help Indian merchants expand internationally. By leveraging Banking Circle’s virtual accounts as well as their local and cross-border payment rails, Skydo can streamline the payment process for its clients, reducing both costs and transaction times and opening new, exciting markets.
Committed to further expansion
The two companies are financial modern technology platforms strongly committed to governance, compliance and reducing the costs associated with global payments. With a direct banking partner and a single API integration to Banking Circle’s infrastructure, Skydo can offer its merchants a broader array of local payment and fund collection options.
This mutual partnership is expected to expand further as Banking Circle grows its presence in Asia and Skydo plans to introduce more currency options and payout capabilities for Indian businesses.
