UK-based fintech TangoPay has partnered with Visa-owned Currencycloud to offer its expat clients faster transaction times and reduced fees when sending payments abroad.
Through the collaboration, Currencycloud will allow Tangopay to access an extensive range of services, enabling it to tailor payment services to customers’ needs via Currencycloud’s APIs.
Other improvements when making remittance payments globally include a significant reduction in average transaction time, lower transaction fees, real-time exchange rates and a wider range of payment options.
Basir Sangerwal, CEO and Founder of TangoPay, commented: “Currencycloud is an excellent fit for TangoPay. Before our integration we relied on traditional foreign exchange methods, which were effective but limited our scalability and the range of payment options we could offer. These limitations made it harder to meet the evolving needs of our global customer base.
“We have rapidly integrated with Currencycloud, using their APIs to add new features and services for our clients who now benefit from a more extensive and tailored service, while we are fulfilling our mission of being a true catalyst for financial inclusion.”
The Visa-owned multi-currency company partnered with multifi in January, aiming to provide seamless international payments for small and medium enterprises (SMEs).
Despite Currencycloud’s best efforts to improve SMEs’ international payments experiences, the firm published research earlier this month, in which it explained international payment opportunities are blocking SMEs from global growth.
Aleks Stefanovski, Chief Strategy Officer at Currencycloud, said: “Since their launch, TangoPay has focused relentlessly on financial inclusion, making it easy for UK’s expat community to make payments to friends, family and businesses globally.
“By choosing to integrate with Currencycloud, TangoPay have made that inclusion even more of a reality by offering competitive real-time FX and fast transactions, which bring clarity, value and speed to global remittances. We are delighted to be part of their vision and mission.”
