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London, 1st February 2021 – HIPS Payment Group Ltd, a provider of innovative and cost-effective e-commerce and mobile payment solutions, and licensed bank, Banking Circle, which delivers ground-breaking financial infrastructure for Payment businesses and Banks, today announced their partnership, which enables Hips to offer settlement with domestic payment rails.
“With this important partnership, Hips can easily provide our payment product solutions globally as Banking Circle allows us to offer instant currency conversion, providing our customers with a means to purchase any items or services in their own currency,” says John Cavebring, CEO of Hips.
“This partnership strengthens our global leadership in simplifying payment processing for a business of any size.”
The two companies will leverage each other’s technology to bypass old, bureaucratic and expensive systems. Instead of sending expensive international wire transfers, Hips can now use Banking Circle’s infrastructure to send payouts to merchants quickly, at low cost, compliantly and securely.
Anders la Cour, co-founder and Chief Executive Officer of Banking Circle added: “We are delighted to be working with Hips, as our collaborative technologies will further enable Payments businesses to seize more opportunities in the new economy. Our partnership provides modern and efficient methods of international payments and settlements and FX, underpinned by strong compliance enabling Hips to add value to its service proposition.”
Hips provides an array of payment product solutions in terms of technical offerings, commercial savings and shorter go-to-market timelines for any bank or fintech startup, regardless of size.
About Banking Circle
Banking Circle is a financial infrastructure provider to Payments businesses and Banks. As a fully licensed bank, free of legacy systems, Banking Circle technology enables payments companies and banks of any scale to seize opportunities in the new economy – quickly, at low cost and in line with high standards of compliance and security – with direct access to clearing that bypasses old, bureaucratic and expensive systems.
Banking Circle solutions are increasing financial inclusion. From accounts to international payments to settlements and FX to compliance, Banking Circle technology is helping thousands of businesses transact across borders in a way that was previously not possible.
Banking Circle is owned by EQT VIII and EQT Ventures in partnership with Banking Circle’s founders. Headquartered in Luxembourg, Banking Circle has offices in London, Munich, Amsterdam and Copenhagen.
About HIPS Payment Group Ltd
HIPS Payment Group Ltd is a provider of innovative and cost-effective e-commerce and mobile payment solutions. Built on cutting edge technology, Hips is disrupting the finance industry with its Payment gateway for Point of Sale, e-commerce and m-commerce, a fully integrated, digital financial commerce platform with full reconciliation and financing support.
Media Enquiries: Banking Circle Press Office:
Wendy Harrison – Harrison Sadler
T: 0208 977 9132
M: 07850 372469
Media Enquiries – Hips:
Tricia Buenvenida, +1 (949) 416-0057