PayAlly, the fully integrated payments ecosystem for SMEs has selected Banking Circle solutions as it seeks to build multi-currency B2B cross border payments services.
The collaboration enables PayAlly access to a wider choice of payment rails through the Banking Circle super-correspondent banking network, subsequently elevating the speed and cost of international payments for its ecommerce customers.
Rafal Andzejevsky, PayAlly Co-Founder & CEO, commented: “At PayAlly we strive to help smaller businesses and individuals by providing them with quicker and more reliable payments.
“Working with Banking Circle, which offers us additional routes for international payments, we are able to improve our ability to execute B2B cross border payments in various currencies more quickly, efficiently and smoothly than we were previously able to do.
“As a result our clients can send and receive funds much faster and with less hassle and that is good news for their cashflow and profitability.”
Placing a heightened focus on serving cross-border payments, the partnership can support London-based PayAlly, which serves over 1,000 corporate clients around the world.
Banking Circle enables local B2B payments and collections across borders and eliminates the need for a physical presence or a relationship with a correspondent bank in that region.
“With its mission to provide customer-centric solutions that break down barriers to international payments and increase SME financial inclusion, PayAlly’s ethos is very closely aligned to ours”, added Anders la Cour, Co-Founder and Chief Executive Officer at Banking Circle. “Working together, we can help PayAlly’s e-commerce clients expand internationally without the high cost and slow transfer fees that could otherwise hold them back.”