Mike Laven, CEO of Currencycloud

Enterprise-class payments platform, Currencycloud and Visa have entered into a partnership in a bid to propel cross-border and travel payments. The agreement is expected to enable secure and simplified digital payments at home as well as while travelling.

“Today, 1 in 5 payments is a cross-border transaction, whether that’s from a consumer travelling internationally or buying from an international seller online,” said Charlotte Hogg, CEO, Europe, Visa. “Our goal is to continue to help our clients meet this increasing demand for slick, simple and more convenient cross-border payments and make it easier for Visa cardholders to manage their money when travelling. Our partnership with Currencycloud will empower our clients to do just that by offering an innovative, competitive, digital-first solution that ultimately gives consumers and cardholders more control over digital payments – at home and abroad.”

The partnership will enable Visa’s clients to leverage Currencycloud’s payments platform for customer in-demand services such as multi-currency wallets, real-time notifications on forex transactions etc. It will aim at simplifying payments abroad and removing the barriers for the same, making the platform available for the enablement of pre-purchase of travel currency and real-time notifications of FX rates.

“Currencycloud exists to take the complexity out of international payments,” says Mike Laven, CEO of Currencycloud. “Banks are under pressure to provide better user experiences in an increasingly connected world, and our partnership with Visa will enable us to deliver that on a grand scale. Our leading APIs give control and visibility of international transactions; that power combined with the reach of Visa will enable a new generation of consumers to benefit from a better experience when spending abroad.”

Established in 2012 in the UK, Currencycloud is a global payments platform aimed at simplifying money movement and assisting in building customized payment solutions.

by Megha Bhattacharya
Market Analyst at IBS Intelligence