SnapSwap selects Banking Circle to boost its payment processing

Tuesday 22 June 2021 12:11 CET | News

SnapSwap, a provider of digital transformation solutions for financial services & businesses, has selected Banking Circle to deliver payments for its customers.

Utilising Banking Circle’s Payments on Behalf of (POBO) and Collections on Behalf of (COBO) solution, SnapSwap aims to boost settlement times, reconciliation, and transaction processing. SnapSwap builds digital platforms for onboarding and KYC technologies, and holds a Principal Mastercard Membership which allows the issuing of credit and debit cards and processing of the transactions. Its SME banking platform, Everest offers instant account opening, online current accounts, multiple credit cards and automated expense management, according to the official press release.

Banking Circle POBO and COBO tackle the compliance and reconciliation issues often faced in global B2B payments by enabling financial institutions to offer immediate visibility of the sender’s details when processing B2B payments, and to collect funds locally into accounts in the underlying customer’s name. 

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Keywords: partnership, Banking Circle, reconciliation, settlement, payment processing
Categories: Banking & Fintech | Payments General
Countries: Europe
This article is part of category

Banking & Fintech