Currencycloud and Moov partner for international and domestic payments
By Joy Dumasia
Currencycloud, the experts simplifying business in a multi-currency world, has announced it will partner with Moov, a US-based developer platform focused on the payment experience, to improve a range of international and domestic payments capabilities for each other’s customers.
The partnership will open new capabilities for customers of both companies. Businesses working with Currencycloud will be able to expand in the domestic US payments ecosystem, ensuring a seamless experience for their customers who are building a global business. Moov accepts, stores, and disburses money domestically, while Currencycloud moves money internationally and handles currency exchange. Currencycloud and Moov are already collaborating on several joint customer deals.
Both businesses provide customers with embedded finance solutions financial technology that can be integrated within a customer’s existing business. This setup is ideal for business-to-business payments or business-to-individuals. For example, a joint customer providing software for contractors can now offer the ability to pay subcontractors within their platform both in the US and internationally. The embedded finance specialists at Currencycloud and Moov help manage and reduce regulatory, compliance and risk burdens, while the customer focuses on their unique business value, providing the end-user with a seamless money movement experience.
Cara Hayward, Director of Strategic Partnerships, North America at Currencycloud, said: “Embedded finance has gained a lot of momentum in the last 12 months, and demand from customers for financial solutions they can integrate into their businesses is accelerating. Moov is a great example of what makes embedded finance so powerful by enabling businesses to accept, store and disburse customers’ money simply and effectively.”
Wade Arnold, CEO at Moov, commented: “Moov is excited about this partnership because both companies were founded on a similar premise: to make moving money easier. We approach the problem from different angles, Currencycloud tackles international payments and Moov domestic. Together our services complement each other in a way that our customers are going to benefit from immensely.”
HK Yoon is a Lead Frontend Developer at Lawfully, the US-based company that helps immigrants and lawyers for a borderless and stress-free immigration experience. They have recently integrated with both Moov and Currencycloud and commented: “Partnering up with Moov and Currencycloud has helped us to navigate the complex international remittance procedures. Their support team is top-notch and went above and beyond so that we could succeed. We were able to integrate fast and with relative ease.”
IBSi Daily News Analysis
June 09, 2023
Cross Border Payments
There is no ESG strategy in place for almost half of the European SMEs, study revealsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage