FXPress Payment Services to acquire small EMI Avila House

By Megha Bhattacharya

UK-based FinTech payment services company, FXPress Payment Services Limited, today, agreed to acquire a small e-money institution, Avila House Limited. The acquisition is expected to provide FXPress customers with licensed access to receive and hold client funds in multi-currency accounts. This will help the company to expand its offerings with new products and services.

Jason Conibear, CEO of FXPress, said, “The acquisition of Avila House expands our product and service offering to provide simple, easy to access, efficient and integrated payment services to our SME clients. Now, our clients can have the account their business needs, in the currency they want. This is an exciting step as we build out our modular, highly scalable platform to achieve our goal of making international finance simpler, cheaper, and easier to access for all businesses.”

Foreign exchange specialist, FXPress, has created a cloud-based payment services platform that enables seamless integration into corporate accounting systems and bank accounts for optimising transactions. The company stated that this allows it to provide foreign exchange services to SME clients at prices below that of the mainstream banks.

According to FXPress, the acquisition will enable it to expand its product and service offering to provide access to accounts where clients can deposit and retain funds for future use. By integrating Avila House’s payment services, FXPress will be able to allow customers access to multi-currency accounts with individual IBANs to manage cash and further optimise foreign exchange payments.