Currencycloud, the experts simplifying business in a multi-currency world, has today announced it will partner with Moov, a US-based developer platform focused on the payment experience, to improve a range of international and domestic payments capabilities for each other’s customers.
The partnership will open new capabilities for customers of both companies. Businesses working with Currencycloud will be able to expand in the domestic US payments ecosystem, ensuring a seamless experience for their customers who are building a global business. Moov accepts, stores, and disburses money domestically, while Currencycloud moves money internationally as well as handling currency exchange. Currencycloud and Moov are already collaborating on several joint customer deals.
Both businesses provide customers with embedded finance solutions – financial technology that can be integrated within a customer’s existing business. This setup is ideal for business-to-business payments or business-to-individuals. For example, a joint customer providing software for contractors can now offer the ability to pay subcontractors within their platform both in the US and internationally. The embedded finance specialists at Currencycloud and Moov help manage and reduce regulatory, compliance and risk burdens, while the customer focuses on their unique business value, providing the end-user with a seamless money movement experience.
Cara Hayward, Director of Strategic Partnerships, North America at Currencycloud, said of the partnership: “Embedded finance has gained a lot of momentum in the last 12 months, and demand from customers for financial solutions they can integrate into their businesses is accelerating. Moov is a great example of what makes embedded finance so powerful by enabling businesses to accept, store and disburse customers’ money simply and effectively.”
Wade Arnold, CEO at Moov commented: “Moov is excited about this partnership because both companies were founded on a similar premise: to make moving money easier. We approach the problem from different angles – Currencycloud tackles international payments, and Moov domestic. Together our services complement each other in a way that our customers are going to benefit from immensely.”
HK Yoon is a Lead Frontend Developer at Lawfully, the US-based company that helps immigrants and lawyers for a borderless and stress-free immigration experience. They have recently integrated with both Moov and Currencycloud and commented: “Partnering up with Moov and Currencycloud has helped us to navigate the complex international remittance procedures. Their support team is top-notch and went above and beyond so that we could succeed. We were able to integrate fast and with relative ease.”
Developers at platform companies, vertical SaaS solutions, and Fintechs can take advantage of this solution immediately. If you’re interested in learning more please visit Currencycloud or Moov.
Notes to editors
Banks, Fintechs, and businesses everywhere can make bigger, better, bolder leaps with Currencycloud, a Visa solution.
Currencycloud gives businesses the capability to move money across borders, and transact globally in multiple currencies, fast. Experts at what they do, their technology makes it easy for clients to embrace digital wallets, and to embed finance into the core of their business – no matter what industry they’re in.
Since 2012, Currencycloud has processed more than $100bn to over 180 countries, working with banks, financial institutions, and Fintechs around the world, including Starling Bank, Revolut, Penta and Lunar. Based in London with offices in New York, Amsterdam, Cardiff, and Singapore, Currencycloud works with partners including Dwolla, GPS and Mambu to deliver simple, clear cross-border infrastructure solutions for clients. They are regulated in the UK, Canada, US, and the EU and were acquired by Visa in December 2021.
Moov is the payments processor devoted to delighting users. With Moov, software companies can instantly add money movement to their products, letting the end-user drive how they pay and get paid. Because Moov handles user onboarding, compliance, and more, businesses spend less time learning payments and more time building. Get started at moov.io, follow Moov on Twitter @Moov, or join our growing community at moov.io/community.