The collaboration enables Settle to grow its payment network through the enablement of local payouts “in markets where Settle is not connected through its own bank partnerships,” according to the announcement. Historically, Settle has developed technology and offerings in-house, and the Settle collaboration marks the first time it has worked with a third party to provide a client offering. The integration reportedly took less than two weeks.
“We see that Currencycloud … provides rock-solid technology and capabilities that help accelerate our business and our abilities to pursue our vision of creating a service that seamlessly integrates with a company’s pre-existing billing flow,” Settle Group CEO Daniel Doderlein said in the announcement.
Settle’s corporate and individual customers throughout 22 European Union (EU) markets can make and receive payments, control their funds and expand their companies in “any currency, with local payouts” as a result of the integration.
“Our purpose at Currencycloud is to reimagine the way money flows to create a better tomorrow for all. Our partnership with Settle does exactly that…” Stephen Lemon, vice president of strategic partnerships and co-founder of Currencycloud, said in the announcement.
In January, OANDA announced that it was collaborating with Currencycloud to provide North American companies with a new international money transfer offering. The new offering, called OANDA FX Payments, allows corporate clients to conduct international payments in 35 currencies through a digital infrastructure.
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And last August, Contis unveiled a collaboration with Currencycloud in an effort to provide international payments for one million accounts. At the time, it was noted that the collaboration would let clients convert the British pound to over 30 currencies and move cash to over 50 nations throughout five continents.
