Novalnet partners with Banking Circle

Thursday 5 November 2020 11:06 CET | News

Novalnet, a full-service payment provider, has partnered with Banking Circle for foreign exchange (FX) and settlement solutions for its 12,000+ customers around the world. 

Banking Circle is helping Novalnet to support its global clientele with local and cross-border settlement and with faster reconciliation to help online merchants manage and maintain cashflow.

Novalnet was created to tackle the countless payment pain points encountered by online businesses: payment fraud and resulting chargeback, the convoluted customer journey, processing errors, drop in conversion rates, cart abandonments, high transaction fees, lack of technical support, long binding contracts with PSPs and other service providers, to name a few.

Through its single integration, providing a solution focused purely on customer need, Novalnet is resolving these challenges. It provides flexibility to clients by offering customised services fulfilling all payment requirements. These include payment processing of national and international payment methods, real-time fraud prevention and risk management, automated invoicing, subscription and member management, integrated marketplace solutions, claims management and simple reporting. Payment modules for 100+ shop systems/CMS have been designed to be easy to use, and to create a seamless payment journey resulting in higher conversion rates for Novalnet customers.

Through Banking Circle, Novalnet can offer like-for-like settlement in 24 currencies, avoiding double conversions that reduce the payment value through multiple conversions and FX mark ups. Leveraging Banking Circle Real-time FX, Novalnet is also increasing its FX margins and reducing the inevitable overheads of managing multiple international banking partners.

Banking Circle is a financial infrastructure provider to payments businesses and banks. As a fully licensed bank, free of legacy systems, Banking Circle technology enables payments companies and banks of any scale to seize opportunities in the new economy with direct access to clearing that bypasses old, bureaucratic and expensive systems.

Banking Circle solutions are increasing financial inclusion. From accounts to lending, international payments to settlements and FX to compliance, Banking Circle technology is helping thousands of businesses transact across borders.

Banking Circle is owned by EQT VIII and EQT Ventures in partnership with Banking Circle’s founders. 


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Keywords: Novalnet, partnership, Banking Circle, partnership, payments , settlement, FX , cashflow
Categories: Banking & Fintech
Countries: World
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Banking & Fintech

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