FinTech ZEN selects Currencycloud to simplify online shopping

By Megha Bhattacharya

European FinTech ZEN has announced its launch in 32 markets including the UK, along with the support of cross border solutions provider Currencycloud. Businesses using ZEN now have the ability to create accounts for their customers that allow them to pay, collect and hold 35 currencies, as well as provide settlement solutions for customers using other PSPs. ZEN aims to transform digital payments and drive the future of commerce in order to simplify the online experience for both merchants and consumers.

“As someone running my own international, digital business, I have encountered many challenges while managing my finances. Using traditional banking solutions has been taking up too much of my time and distracting me from the focus of growing my business. This experience has made me realize that there are other people like me who need a comprehensive, digital financial suite, which gives peace of mind in terms of managing money and shopping transactions. This is how the ZEN concept was born,” said ZEN’s founder, Dawid Rozek.

FinTech ZEN’s services are available via desktop and a mobile app, in a transparent subscription model. Consumers shopping online can count on a variety of benefits, including a multi-currency current account and automatic 1-year extensions of product warranties, while business customers avoid chargeback claims and take advantage of instant payments from their clients.

Nick Cheetham, Chief Revenue Officer at Currencycloud, commented, “We have worked closely with ZEN to ensure they had the right services in place to successfully launch to both businesses and consumers. Currencycloud Spark, our multi-currency e-wallet solution, fitted perfectly with ZEN’s broader offer, and we look forward to watching them grow in the coming months and years ahead.”

Currencycloud recently announced that it has doubled payment volumes across its platform since the beginning of the lockdown. It now has around 500 customers using its platform. The FinTech has seen monthly transactions jump to $3 billion and has grown its customer base by a third. The FinTech also increased its staff count by 30% this year. The company aims to hire another 70 employees in the first half of next year, while also investing more than $2 million to embrace flexible working on a permanent basis.