MOIN joins Currencycloud to deliver cross-border payments in South Korea
By Gloria Mathias
Currencycloud has partnered with South Korea-based cross-border payment company MOIN to expand its global coverage.
With this partnership, the company aims to deliver faster processing times, lower transaction costs, and enhanced security measures to its customers whenever they make cross-border payments.
MOIN aims to empower its individual and business customers by reducing unnecessary remittance-associated costs. The collaboration with Currencycloud will support the platform in achieving this by enabling it to respond to fluctuations in the FX market 24/7.
Owing to Currencycloud’s FX rates, the payments firm can save FX costs and pass the savings to customers. Furthermore, MOIN can process more than 33 currencies through Currencycloud instead of a range of providers, allowing a faster, more cost-effective remittance service.
ILSEOK SUH, CEO of MOIN noted, “Our strategic approach is to enhance our services to improve customer satisfaction and be an innovative provider of cross-border payments and foreign exchange. Collaboration with Currencycloud not only provides a fast remittance at a low cost but also offers MOIN significant peace of mind concerning global regulatory compliance and anti-money laundering measures as we expand and enhance our services. By aligning with such stringent criteria, we can ensure the safety of our global customers’ remittances and uphold our commitment to secure transactions.”
Rohit Narang, Managing Director of APAC, at Currencycloud said, “MOIN is continuously investing in innovation and strengthening its payment network to deliver superior quality services to its customers. We are delighted to be part of their solution as they continue on their path of global expansion.”
MOIN has been addressing the inefficiencies of cross-border payments by developing a proprietary payment network that replaces the conventional payment network.
The platform launched its cross-border remittance service targeting students studying abroad and has been expanding its outreach to encompass businesses and e-commerce platforms. The company is in six regions: South Korea, Singapore, Japan, Hong Kong, the USA, and Lithuania.