Payments optimisation company Ixaris have announced a new partnership with financial service infrastructure specialists Banking Circle.
The agreement will connect Banking Circle’s virtual IBAN technology to Ixaris’ payment products.
Ixaris’ CEO, Aran Brown explained: “Our partnership with Banking Circle allows Ixaris to offer an even more competitive edge to our travel customers, not only by optimising payments but by creating a seamless cross border transaction process across more than 25 currencies in 60 countries in a way that banks simply would not allow.”
Headquartered in Hellerup, Denmark, Banking Circle unveiled its Virtual IBAN technology in 2017.
The firm enables businesses to send and receive payments – whilst eliminating the reliance on banking relationships in different territories.
Anders la Cour, CEO at Banking Circle, commented: “Banking Circle Virtual IBAN plays an invaluable role in delivering faster, cheaper payments to merchants transacting around the globe.”
The two firms said in a statement that the combination of their solutions will “result in more efficient global payments handling for the travel industry that can generate revenue and, ultimately, profitability.”
La Cour concluded: “Unlike traditional business to business cross border payments, which can incur high bank charges and payment delays, our innovative and multi-award-winning solution enables Ixaris to give customers their own virtual IBAN’s.
“This improves payments acceptance, settlement times and reconciliation without the burden of multiple banking relationships, high fees and slow transfer times.”
