Lithuania payments company SatchelPay is adding multi-currency cross-border payments functionality through a new partnership with multi-currency IBAN account provider ONPEX (the Online Payment Exchange).
The companies announced Monday (December 3) that their partnership will allow SatchelPay to expand its banking network and add multi-currency payments, in addition to its cross-border euro payment capabilities for companies in the SEPA zone.
Using ONPEX’s API, SatchelPay will integrate SWIFT payments functionality into its offering, and enable its business users to manage up to 25 different currencies for their global payments needs. The solution allows businesses to initiate or accept payments across multiple currencies using a single IBAN account.
“ONPEX provides SatchelPay with the bespoke solutions it was looking for to meet its customers’ needs and facilitate the types of transactions they want to make,” said ONPEX CEO Christoph Tutsch in a statement. “In a competitive financial services market, SatchelPay needed simple and innovative solutions, which would bring value to its operations and to its customers.”
“We were seeking highly-skilled specialists to take our IBAN offering to the next level — ONPEX’s expert team proved to be the perfect fit,” added SatchelPay CEO Thomas Jackson. “One of the greatest benefits of our collaboration was the fact that ONPEX was able to deliver in a fraction of the time a tailor-made solution via the use of its flexible API-driven approach. This has led to a number of cost and time savings across SatchelPay as an organization, which means that we can also share these benefits with our clients.”