Global Processing Services and Currencycloud partner to offer complete, enterprise-grade, cross-border payments solution

Share this post

London, UK – 29 June 2021: Multi-award-winning payments processor, Global Processing Services (GPS), today announces that it has joined forces with Currencycloud, the experts simplifying business in a multi-currency world, to widen access to cross-border payments for financial institutions and fintechs, providing a passport to a post-COVID world.

The pandemic has accelerated the digitalisation of payments and the move away from cash. People are naturally operating more globally, whether that’s for personal or business travel, to accommodate multiple bases as the world shifts to a more hybrid model of working, or growing e-commerce and global supply chains. As a result, financial institutions and fintechs need to offer customers solutions that satisfy this changing dynamic as people shift to digital-first behaviours for safety and convenience.

Leveraging each other’s expertise, the combined value proposition will deliver a complete, enterprise-grade, off-the-shelf and pre-integrated solution. It will enable businesses to offer customers compliance and regulatory infrastructure, cross-border payments infrastructure, real-time FX for overseas card transactions, access to a global banking network, multi-currency accounts, banking cards and much more.

Fintechs can now upgrade their existing product offerings and launch dynamic new services, including:

Multi-currency wallets:

  • Using Currencycloud rates, customers can fund up to 34 foreign currency wallets with real-time wholesale rates, allowing consumers to purchase currencies ahead of travelling and while on the go.
  • Competitive FX rates for 38 currencies, including restricted and non-restricted currencies, and nearly 300 currency pairs.
  • Guaranteed weekend FX rates.

 

Point-of-Sale (POS) FX:

  • Cardholders benefit from transparent, competitive, real-time FX rates when making purchases abroad and can choose to be notified of the amount spent in their domestic currency via push notifications on mobile devices in real time.
  • By securing a guaranteed and real-time FX rate at the point of sale, ensuring it is locked in through to clearing and settlement, cardholders now know exactly what overseas transactions cost at the point of sale.

Shaun Puckrin, Chief Product Officer of GPS, commented: “There is a major opportunity for payment players to further displace cash with seamless card-based FX payments. Integrating our respective platforms provides fintechs with enterprise-grade capabilities, driving speed to market, and an invaluable competitive advantage as we emerge from the pandemic.”

Stephen Lemon, Co-founder and VP, Partnerships & Enterprise at Currencycloud, said: “For fintechs, building a multi-currency solution requires a huge effort across multiple functional and regulatory domains. By working with Currencycloud and GPS, fintechs can reduce the complexity involved and get to market much more quickly for a fraction of the cost of self-building, while vastly reducing ongoing operational risk and overhead.”

More To Explore

Membership

Merchant Community Membership

Are you a member of The Payments Association?

Member benefits include free tickets, discounts to more tickets, elevated brand visibility and more. Sign in to book tickets and find out more.

Welcome

Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.

Having trouble signing?

We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.

First things first

Have you set up your Member account yet? If not, click here to do so.

Still not receiving your auto-login link?

Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.

Please click the button below which relates to the issue you’re having.

I didn't receive an e-mail

Tip: Check your spam

Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association

Tip: Check “other” tabs

Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.

Tip: Click the link within 60 minutes

For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.

Tip: Only click once

The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.

Tip: Delete old login e-mails

Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.

Tip: Check your security policies

Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.

Need to change your e-mail address?

For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.

Still got a question?