Visa and Currencycloud collaborate to accelerate innovation in cross-border and travel payments.
The overall agreement is aligned with Visa’s broader mission to support consumers making secure and frictionless digital payments, both at home and while travelling abroad.
With the partnership, Visa’s clients and partners will be able to use Currencycloud’s cloud-based payments platform. Furthermore, this will offer customers services such as:
- multi-currency wallets,
- real-time notifications on foreign exchange transactions
In addition, Visa customers will be able to better manage their travel plans with enhanced visibility of their finances.
CEO, Europe at Visa, Charlotte Hogg, commented: “Today, 1 in 5 payments is a cross-border transaction, whether that’s from a consumer travelling internationally or buying from an international seller online”
“Our goal is to continue to help our clients meet this increasing demand for slick, simple and more convenient cross-border payments and make it easier for Visa cardholders to manage their money when travelling. Our partnership with Currencycloud will empower our clients to do just that by offering an innovative, competitive, digital-first solution that ultimately give consumers and cardholders more control over digital payments – at home and abroad.”
Visa, Currencycloud partnership
The international payments markets continues to rapidly grow.
Cross-border e-commerce will potentially reach $900bn in value by 2020.
In addition, the partnership will focus on delivering payment solutions that will break down the barriers on where and how consumers can spend abroad
CEO of Currencycloud, Mike Laven, added: “Currencycloud exists to take the complexity out of international payments. Banks are under pressure to provide better user experiences in an increasingly connected world. Our partnership with Visa will enable us to deliver that on a grand scale.
“Our leading APIs give control and visibility of international transactions; that power combined with the reach of Visa will enable a new generation of consumers to benefit from a better experience when spending abroad.”