currencycloud

Mike Laven, CEO of Currencycloud

UK-based Currencycloud, a payment platform that serves businesses by providing payment solutions has partnered with Visa Inc. to drive further innovation in cross-border and travel payments. The overall agreement is aligned with Visa’s objective to help people make secure digital payments.

Mike Laven, CEO of Currencycloud, “Currencycloud exists to take the complexity out of international payments 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.”

With this partnership, Visa’s clients, banking, and FinTech partners will now have the option to use a cloud-based payments platform to offer their customers services like multi-currency wallets and real-time notifications on foreign exchange transactions.

Visa and Currencycloud’s partnership will focus on offering solutions that remove the barriers to how, where, and when consumers can pay abroad, giving travellers a better experience when they’re travelling.

The partnership between the two will initially focus on making Currencycloud’s platform available to enable the pre-purchase of travel currency, or the real-time notification of FX rates when a cardholder uses their Visa card overseas.

This isn’t the first time this year when Visa has made such kind of partnership with a payments platform, previous such deals involve partnerships with Minna Technologies, Bankable, Klarna and solarisBank among others.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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