Established in 2015, GAIN Capital Payments Limited (GCPL) is the international money transfer arm of GAIN Capital. GCPL launched its money transfer product, Forex.com, in 2016.
Currencycloud’s Payments Platform’s user-friendly and easy-to-understand backend has made launching a new product painless. The reliable service has given us the flexibility to respond to our business’s needs so that we can better serve our customers. As a result, we’ve been able to maximise efficiencies, saving us both time and money.
Emmanuelle Johaadien, Chief Operating Officer at GCPL
GAIN Capital was looking at ways to diversify its product offering. In order to capitalize on its well-known FX expertise, the company launched GAIN Capital Payments Limited (GCPL).
GCPL provides bank-to-bank international money transfers and currency exchanges for both individuals and businesses making regular payment transfers. The company’s clients use the money transfer service to conduct a range of personal and business activities, from purchasing goods and assets overseas to paying suppliers, to repatriating funds back to friends and family and purchasing holiday homes abroad.
As a subsidiary of the GAIN Capital group, GCPL was aware that they’d be able to quickly benefit from the core business’s existing customer base, but how would they cater to the immediate and wide-ranging demands for the money transfer service? And, with a growing need for the service, they had to get to market quickly or risk losing customers to other service providers.
They needed a single liquidity partner that could step up to all of their buy and sell currency needs that would be reliable and could integrate easily with the new product.
GCPL enlisted Currencycloud to help process the influx of money transfers. Currencycloud’s Payment Platform gave GCPL a quick-to-market solution, underscored by a dependable service and support. The pool of currencies that the platform is able to interact with was much larger without using multiple liquidity partners.
Getting the Payments Platform up and running was a straightforward process. Currencycloud’s implementation team and GCPL’s development team scoped out requirements and used Currencycloud’s APIs to build a tailored product that is scalable and reliable.