Jul 15, 2020

Currencycloud drives European expansion with e-money license

Currencycloud
digital payments
E-money
Shift Connect
William Girling
2 min
Digital payments
Global payments platform Currencycloud announced that it has been granted an e-money license from Dutch Central Bank...

Global payments platform Currencycloud announced that it has been granted an e-money license from Dutch Central Bank.

The license, which enables Currencycloud to store money and operate e-wallets on behalf of its clients, will be instrumental in facilitating the company’s further expansion across the European continent. 

One of only seven examples issued by Dutch Central Bank, the London-based company hopes to expand past its office in Amsterdam and bring its particular brand of fast, easy and transparent payment solutions to new markets.

“Covid-19 has accelerated the rush towards digital payments and Europe represents a tremendous opportunity for Currencycloud,” said Mike Laven, CEO. 

“The Netherlands possesses the perfect blend of factors to support our expansion in the EU. It has a strong fintech sector, access to top talent and a safe regulatory environment, which allows us to keep driving forward our services and product.”

Solutions built on smart tech

A fintech working at the cutting-edge of the latest payment technology, Currencycloud’s developers use customisable API ‘building blocks’ to create bespoke solutions for its customers.

Experienced at serving banks, financial services businesses, other fintechs and FX brokers, solutions offered on the company’s platform include:

  • Collect: A payment tool which facilitates the easy collection of currency in foreign countries.
  • Exchange: Offers real-time access to wholesale exchange rates, allowing money to be converted at an agreed rate via a Currencycloud Account.
  • Pay: Allows users to manage domestic and international payments in a direct and controlled manner, with options for automation.
  • Manage: Effectively and intuitively presents information on balances, notifications, permissions, reporting and more.

Expanding globally

Currencycloud has also released details of a partnership with Canadian payments company Shift Connect to drive expansion plans in the US, UK and Europe. 

Dave Kelcher, CEO at Shift Connect, stated that the collaboration would be mutually beneficial:

“Our partnership with Currencycloud will allow us to move swiftly into new territories and deliver the fast, secure, stress-free and competitive payments service we have become known for in Canada.”

Meanwhile, Richard Arundel, General Manager and Co-Founder of Currencycloud, recognised that, while expansions can be time-consuming and costly, the company would be working to make the process as easy as possible.

“Our platform, which includes a global payments network, regulatory coverage and efficient on-boarding processes, will help Shift Connect to expand their business internationally both quickly and efficiently and allow them to concentrate on the important work – attracting new customers and building on the success that they’ve had in Canada. 

“We look forward to supporting them with their global expansion.”

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Jun 17, 2021

Tink partners with Novalnet AG for open banking payments

novelnet
Tink
Fintech
Digitalpayments
2 min
Novalnet AG will collaborate with Tink for the fintech’s payment initiation services

The Munich-based fintech Novalnet AG, which was founded in 2007 and is one of Europe’s leadingfintech companies, has announced a new partnership with Tink, the Swedish open banking platform currently connected to more than 3,400 European banks.

Novalnet AG delivers payment solutions and fully automated services, from checkout to debt collection. Its solutions are also available worldwide. 

According to reports, the fintech company plans to launch a real-time payments feature for merchants across Europe, to expand its current services and enhance the transaction experience it operates through its platform. 

The new feature, says Novalnet, will revolutionise payments for ecommerce with transactions being credited to merchant’s accounts almost instantly. 

Novalnet partnership with Tink

By partnering with Tink for payment initiation services (PIS) technology, Novalnet will take previous region-specific payment methods and offer a new unified digital payments service to its merchants across Europe. 

The fintech’s real-time merchant payments feature, which will be launched initially in Germany and the United Kingdom, will then be integrated across other European markets during 2021. 

Speaking about the new collaboration, Emmanuel Kirse, COO of Novalnet, explained, "We expect great things from our strategic partnership with Tink, which is a significant development for both parties. 

“With Tink, Novalnet can offer a new set of open banking-related solutions in Europe. The new opportunities offered by this partnership will help both Tink and Novalnet grow together, along with our merchants." 

Cyrosch Kalateh, Regional Director for the DACH region at Tink said, “Our partnership with Novalnet is a big step for Tink in the German market, and we are excited to work together to bring new, innovative payments services to merchants across Europe.”

He added, “At the end of 2020 Tink committed to expanding its payment initiation services from five to 10 markets, fuelled by an €85mn investment round. We are proud to add Germany to this list by announcing we have now fully launched Tink’s PIS services in this market.”

Image credit: Novalnet AG

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