ONPEX boosts Wirexs global growth with cross-border payments and multi-currency IBANs

Tuesday 21 May 2019 14:09 CET | News

ONPEX, a provider of multi-currency IBAN accounts, has partnered with UK-based digital money solutions provider, Wirex.

The partnership will help Wirex offer International Bank Account Numbers (IBANs) to deliver effective cross-border payments.

Wirex, a UK-based, FCA-regulated digital payment platform, launched the world’s first Visa card that allows users to convert and spend cryptocurrencies wherever Visa is accepted. Wirex’s payment platform currently supports 9 cryptocurrencies, including Bitcoin, Litecoin, Ethereum and XRP, as well as 10 traditional currencies including Pound Sterling, Euro, and US Dollars. The platform enables cost-effective digital transactions for more than 2 million users in 130 countries and has processed over $2bn of transactions to date.

ONPEX is supporting Wirex to further upgrade its services by providing IBANs for Wirex account holder. This new facility means users can now  transfer their money internationally in compliance with local and global legislation, with a reduced risk of transcription errors.

The partnership with ONPEX allows Wirex to increase the number of traditional currencies offered on its platform to 25. ONPEX also enables the company to transfer money via SEPA and SWIFT protocols. This opens up the companys services to many more clients and new cross-border markets, supporting its future growth plans.

Founded in 2013, ONPEX is a global provider of modular payment and banking solutions. The Luxembourg-regulated Payment Institution combines multi-currency IBAN accounts, FX, global transfers, and ePayments into one easy-to-use cloud-based platform. All ONPEX’ services are available via API and web UI with optional white-label capability.

The ONPEX solution is an in-house developed platform and serves to address the needs of digital businesses offering maximum flexibility while ensuring PSD2 and PCI-DSS compliance. The platform can be configured for almost any use case involving global and local transfers of currencies.

ONPEX is an authorized Payment Institution supervised by the CSSF in Luxembourg.

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Keywords: ONPEX, Wirex, cross-border payments, IBANs, banking, payments, partnership
Countries: World