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Nexpay expands services with SWIFT payments in 23 currencies

By Gloria Methri

July 24, 2023

  • Cross Border Payments
  • Electronic Money Institution
  • FinTech
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Nexpay, SWIFT, EMI, FinTech, Transaction Banking, Multi-Currency Payments, LithuaniaNexpay, a Lithuanian Electronic Money Institution (EMI) has announced its enhanced service offering with the addition of SWIFT payments in 23 currencies. The move caters to the needs of digital businesses worldwide and advances Nexpay’s ambition to bring forth innovative and secure financial solutions.

The latest service expansion aligns with the industry’s shift towards cross-border payments transformation, allowing customers to leverage SWIFT’s payment infrastructure. Initially focusing on EUR transactions via the SEPA payment system, Nexpay has now enhanced its offerings to include multi-currency payment orders through the SWIFT network.

This development enables Nexpay clients to process payments in a wide range of currencies, including USD, GBP, JPY, AUD, CAD, and many more. The automatic conversion feature ensures hassle-free transactions, as funds are effortlessly converted into their respective EUR accounts.

Uldis Tēraudkalns, CEO of Nexpay said, “Digital businesses need transactional banking, where the focus is merely on enabling them to receive and make payments safely, cost-effectively, and simply. In the face of the evolving landscape of cross-border payments, our move to include SWIFT payments reinforces our commitment to a banking model prioritising simplicity, safety, and cost-effectiveness, enabling digital businesses to flourish without unnecessary frills and risks.” 

Nexpay is a Vilnius-based FinTech scale-up that provides business banking solutions for digital companies. Established in 2017, the company is helping over 600 businesses build the future of money with a range of payments and accounts products. As an authorised EMI with a license from the Bank of Lithuania, Nexpay ensures stringent adherence to regulations and consistent reporting to the supervisory authority. With a focus on continuous improvement of client experience and product features, the EMI has processed over €7 billion in transactions across 42 countries to date.

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