Currencycloud and Tribe Payments to bring BaaS solution to FinTechs and banks

By Megha Bhattacharya

Currencycloud and Tribe Payments have entered into a partnership today with an aim to deliver transparency to foreign exchange costs charged on international card transactions. The partnership also aims to equip customers with access to multi-currency wallets. The collaboration will provide Tribe Payments partners with access to wholesale FX rates. The company is also looking to offer named virtual accounts in 35 currencies, enabling the ability to receive, store funds and make payments to almost anywhere in the world through Currencycloud Spark.

Stephen Lemon, Head of Strategic Partnerships and Co-founder, Currencycloud commented, “Our partnership with Tribe payments is really helping digital banks and fintechs gain access to a wholesale, quick, and easy solution to enhance their customer experience. We are excited to partner with Tribe, a like-minded company looking to innovate and transform the payments processing industry.”

The company is also looking to offer named virtual accounts in 35 currencies, enabling the ability to receive, store funds and make payments to almost anywhere in the world through Currencycloud Spark.

The companies stated that they will continue to evolve their partnership with the availability of their FX integration in Q4.

Alex Reddish, Chief Commercial Officer, Tribe Payments commented, “At Tribe Payments, we are on a mission to make payment processing simple and secure, while letting our partners scale quickly. So, this partnership with Currencycloud is perfect as it gives increased scalability to our partners, ensuring they are growing their competitive advantage. We are really looking forward to growing this partnership to mitigate our customers pain points.”

Recently, European payments provider, Contis, 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.