MultiPass today announced that it has selected payments specialist Banking Circle for delivering secure payment solutions for SMEs transacting globally and in multiple currencies. The company will be providing MultiPass with Virtual IBAN accounts to enable local payments and collections across borders. The FinTech’s Virtual IBAN gives financial institutions such as MultiPass the ability to issue multicurrency IBANs in their customer’s name and in multiple jurisdictions.
MultiPass is an FCA regulated European FinTech solutions provider serving e-commerce, travel and other business clients across the UK and EU/EEA.
“The MultiPass platform’s collaborative approach allows our clients to expand their services and markets across Europe,” commented Konstantin Zaripov, Managing Director of MultiPass. “We work with several carefully selected partners within the payments ecosystem to ensure we deliver the best possible solutions for our clients.
“Banking Circle allows us to deliver transparent fees and competitive FX rates to help our SME clients transact globally in various currencies. Payments with Banking Circle are quick and secure, which means we can expand our payment capabilities and add value to our offering.”
Recently, business payment solution provider Safenetpay has teamed up with the FinTech to enhance its cross border payment offering. Safenetpay will utilise Banking Circle’s multi-currency accounts, SEPA and SWIFT transactions solutions and foreign exchange (FX) capabilities. The partnership will enable customers to access additional currencies, competitive FX rates and quick, reliable transactions within SEPA.
Anders la Cour, co-founder and Chief Executive Officer of Banking Circle added, “Our mission at Banking Circle is to tackle the legacy of high cost and slow international payments and MultiPass is another business that has seen the value we can add to their proposition.”
“Like Banking Circle, MultiPass’s sights are set firmly on the goal of industry-wide collaboration and the benefits it brings. Through Banking Circle Virtual IBAN, MultiPass is able to enhance the service it provides to its corporate clients, helping them to reach their global potential without the usual high cost and long transfer times of cross border payments and FX holding them back.”