Contis & Currencycloud team up to boost international payments offering

By Megha Bhattacharya

European payments provider, Contis, today, announced a partnership with Currencycloud in a bid to offer international payments for around 1 million accounts. The collaboration is expected to allow end-customers to convert GBP to more than 30 currencies and send funds to over 50 counties across 5 continents.

The companies stated that the partnership aims to simplify international payments for FinTech clients, companies planning for overseas expansion, and account holders needing to send money abroad.

Jason Ollivier, Chief Disruption Officer at Contis, said, “…We’ve increased investment in our core platform and bolted on functionality to our API based platform to meet client needs. This is the latest in a long run of Contis innovations and updates, recently including Buffer ‘secondary authorisation’ technology and ApplePay. We pride ourselves on offering a frictionless experience to clients and their customers. Integrating Currencycloud’s best-in-class tech dramatically simplifies sending money abroad, at a time when international transfers are becoming more essential for banks, fintechs, and their customers.”

Contis, a principal member of Visa, offers B2B issuing and processing through its wholly-owned, cloud-based technology. This will be combined with Currencycloud’s multi-currency account infrastructure for enabling a way to provide FOREX and international money transfers. The companies stated that the customers could request a real-time quote, including the exchange rate on offer and transaction fee, before deciding to make a payment.

Lewis Nurcombe, Sales Director, Banking and Issuing at Currencycloud, commented, “Contis delivers a comprehensive service to its customers and we are thrilled that they chose to partner with us to deliver their foreign exchange solution. As digital payments become the ‘norm’, so has the need to make international payments. This partnership means that Contis customers can take advantage of fast, efficient, and clear payment processes.”

Recently, Contis announced that it has applied for two grants under the RBS & BCR Alternative Remedies Packages, that amounts to £35 million