Visa and Currencycleud have launched Visa Cross-Border Solutions, which provides cross-border money movement solutions for banks, fintech companies, currency brokers and other payment institutions.
Visa Cross-Border Solutions combines proprietary cross-border and cash management capabilities with the solutions resulting from the acquisition of Currencycleud. Visa Cross-Border Solutions operates on a B2B4X model, meaning the company serves other businesses but focuses on improving the end-user experience.
Visa Cross-Border Solutions offers a set of modular building blocks that can be easily integrated with a company’s existing technology infrastructure. This is done through an application programming interface or API. These building blocks provide a range of capabilities including accepting payments in multiple currencies, foreign exchange (FX) with constant real-time rates, multi-currency wallets that store more than 30 currencies. This currency can be spent and sent to over 180 countries and territories.
“Cross-border collaboration offers enormous opportunities for innovation and growth. Until now, this market has always been difficult to penetrate due to compliance, regulatory and technology challenges. We offer solutions to help overcome these problems. We help manage regulatory burdens by providing flexible, easy-to-integrate solutions. Our clients will then be able to quickly move toward generating revenue and ROI on their investment, while greatly enhancing the end-user experience,” said Colleen Ostrowski, senior vice president and general manager of Visa Cross-Border Solutions.