back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

GPS and Currencycloud to widen access to cross-border payments

By Megha Bhattacharya

June 29, 2021

  • Europe
  • GPS
Share

gpsPayments processor, Global Processing Services (GPS), today announced that it has joined forces with Currencycloud to widen access to cross-border payments for financial institutions and FinTechs, providing a passport to a post-COVID world. The combined value proposition will deliver a complete, enterprise-grade, off-the-shelf and pre-integrated solution. It will enable businesses to offer customers compliance and regulatory infrastructure, cross-border payments infrastructure, real-time FX for overseas card transactions, access to a global banking network, multi-currency accounts, banking cards and much more.

Shaun Puckrin, Chief Product Officer of GPS, commented: “There is a major opportunity for payment players to further displace cash with seamless card-based FX payments. Integrating our respective platforms provides fintechs with enterprise-grade capabilities, driving speed to market, and an invaluable competitive advantage as we emerge from the pandemic.”

FinTechs can now upgrade their existing product offerings and launch dynamic new services, including multi-currency wallets and Point of Sale FX. Using Currencycloud rates, customers can fund up to 34 foreign currency wallets with real-time wholesale rates, allowing consumers to purchase currencies ahead of travelling and while on the go. Cardholders benefit from transparent, competitive, real-time FX rates when making purchases abroad and can choose to be notified of the amount spent in their domestic currency via push notifications on mobile devices in real time.

Stephen Lemon, Co-founder and VP, Partnerships & Enterprise at Currencycloud, said: “For fintechs, building a multi-currency solution requires a huge effort across multiple functional and regulatory domains. By working with Currencycloud and GPS, fintechs can reduce the complexity involved and get to market much more quickly for a fraction of the cost of self-building, while vastly reducing ongoing operational risk and overhead.”

Previous Article

June 29, 2021

Finastra research reports boon in banking as a service industry for 2022

Read More
Next Article

June 29, 2021

21Shares AG launches Solana ETP for crypto on Swiss Stock Exchange

Read More










IBSi Daily News Analysis

The Weekly Wrap

August 19, 2022

Europe

The Weekly Wrap: all you need to know by Friday COB | August 19th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

August 19, 2022

6 FinTech Tweets you should see!

Read More

August 19, 2022

PalmPay launches Wallet Safe Workshop to spread payment security awareness

Read More

August 19, 2022

Bond Financial Technologies launches new Credit Builder Card

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022