Settle Group and Currencycloud to boost cross-border payments & FX

By Megha Bhattacharya

European mobile payments provider Settle Group has teamed up with Currencycloud for adding foreign exchange and cross-border payments for its invoice financing and factoring customers across Europe. The partnership also enables Settle to expand its payment network, by enabling local payouts in markets where Settle is not locally connected through its own bank partnerships.

Settle Group CEO, Daniel Doderlein, said, “Our partnership with Currencycloud is the first of its kind for us. We see that Currencycloud, as a long-standing fintech, such as ourselves, provides rock-solid technology and capabilities that help accelerate our business and our abilities to pursue our vision of creating a service that seamlessly integrates with a company’s pre-existing billing flow. After standing shoulder to shoulder at financial services conferences for a decade, it’s a rewarding experience to work with fintech enablers like Currencycloud.”

Recently, London-based FinTech Fortu Wealth announced a partnership with cross border solutions provider Currencycloud in a bid to allow its clients to make multi-currency payments globally through its Spark solution. The partnership will see Fortu customers gain access to foreign exchange rates, international payments in all major currencies, as well as the provision of virtual IBANs through Currencycloud Spark.

European FinTech ZEN also announced its launch in 32 markets including the UK, along with the support of 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.

Steve Lemon, Vice President Strategic Partnerships & Co-founder of Currencycloud, commented, “Our purpose at Currencycloud is to reimagine the way money flows to create a better tomorrow for all. Our partnership with Settle does exactly that, for both businesses and consumers and we’re looking forward to growing the partnership moving forward.”