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Visa announced its acquisition of Currencycloud, a global platform that enables banks and fintechs, to provide innovative foreign exchange solutions for cross-border payments.
The acquisition, which builds on an existing strategic partnership between Currencycloud and Visa, will empower both companies’ clients and partners to provide greater transparency, flexibility and control for consumers and businesses when making international payments or doing business in multiple currencies.
Currencycloud’s cloud-based platform already supports over 500 banking and technology clients with reach in over 180 countries and will continue to serve and support its customers and partners across the industry.
Visa Inc. is on mission to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive.
The company’s advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second.
The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying its brand, products, people, network and scale to reshape the future of commerce.
Currencycloud on the other hand, gives businesses the capability to move money across borders, and transact globally in multiple currencies, fast. Experts at what they do, their technology makes it easy for clients to embrace digital wallets, and to embed finance into the core of their business – no matter what industry they’re in.
Since 2012, Currencycloud has processed more than $100 billion to over 180 countries, working with banks, financial institutions and Fintechs around the world, including Starling Bank, Revolut, Penta and Lunar.
Based in London with offices in New York, Amsterdam, Cardiff & Singapore, Currencycloud works with partners including Visa, Dwolla, GPS and Mambu to deliver simple, clear cross-border infrastructure solutions for clients. They are regulated in the UK, Canada, US, and the EU.
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