ChannelLife Australia - Industry insider news for technology resellers
Story image
Currencycloud and xpate expand market access for customers
Mon, 16th Oct 2023

Currencycloud has partnered with xpate, the e-commerce payments platform and business bank, to expand market opportunities for customers. 

The partnership will enable xpate customers to tap new markets worldwide and open up fresh revenue streams, with xpate's platform now offering multi-currency online payment methods and access to competitive FX rates for over 30 currencies.

Xpate can now give customers instant settlements, giving them greater control and flexibility over their cash flow.

The xpate platform provides businesses with a single multi-fit solution that unites all of the desired payment methods to cover an extensive range of demands that otherwise require onboarding and integration with multiple partners. Internet acquisition, bank transfers, and facilitation of payments via APMs, along with mass payouts, card payouts and currency exchange, are available within one unified framework. 

All funds acquired by the client over a business day are settled within the xpate payment solution and can be sent to a merchant bank account, a third-party account, used for mass payout to service providers or card payout.

Using advanced technology solutions, xpate can automate and speed up typically clunky, time-consuming processes. This is all complemented by advanced security and fraud-monitoring systems.

Mihails Safro, CEO at xpate, says: "We understand the challenges that e-commerce SMEs face managing different currencies and navigating complex FX processes, and xpate's mission is to solve these for them."

"Our partnership with Currencycloud brings tangible benefits to our end-users, providing an integrated platform for managing local and global financial transactions." 

"We can give seamless support for merchants who want to transact globally, from efficient payment processing to competitive FX rates, ensuring our customers can optimise their international transactions and maximise their profitability," says Mihails Safro. 

Xpate's integrated platform combines card acquiring, payment processing, and banking services, eliminating merchants needing to open several business bank accounts with third-party banks or payment service providers. This results in a reduced administrative burden, a boon for businesses of a scale where unnecessary administrative costs can be extreme.  

Aleks Sefanovski, Chief Strategy Officer at Currencycloud, expresses enthusiasm for their collaboration with xpate, as both companies are dedicated to providing affordable and seamless financial services across borders. Sefanovski anticipates a continued partnership that will aid xpate in its mission to empower customers to grow, increase their income, and thrive in the global business landscape.

Sefanovski comments: "Like Currencycloud, xpate is driven to make frictionless, borderless finance a reality for its customers, opening up low-cost, seamless payments and transactions for everyone."

"We are looking forward to continuing the partnership as xpate continues its mission of enabling its customers to expand their reach, increase their revenue streams, and thrive in the global business landscape," says Aleks Sefanovski. 

Complimenting xpate, Currencycloud allows businesses to quickly move money across borders and transact globally in multiple currencies. Currencycloud's technology makes it easy for clients to embrace digital wallets and embed finance into the core of their business, regardless of their industry.