Selling & buying online simplified with Zen & Currencycloud’s FX technology

Extended warranties, enhanced customer support & loyalty program for customers in 32 markets 

London, 1 February 2021– ZEN (zen.com), a licenced European Fintech company, has announced its launch in 32 markets, including the UK, with the support of Currencycloud, a leading provider of B2B embedded cross-border solutions. ZEN’s goal is to revolutionize digital payments and drive the future of commerce in order to simplify the online experience for both merchants and consumers.

Technology and the pandemic have combined to deliver rapid growth of eCommerce – in the UK 80% of active shoppers are online shoppers 1 , making it the third most advanced online trade market globally. There were 85,000 new online businesses launched only during the first lockdown in Spring 20202 . Such a huge digital shift requires adequate tools to manage both consumers’ and sellers’ expectations in the new-normal era. 

ZEN’s mission is to give consumers and businesses peace of mind in managing their money and shopping transactions. Consumers shopping online can count on a variety of benefits, including a multi-currency current account and automatic 1-year extensions of product warranties, while business customers avoid chargeback claims and take advantage of instant payments from their clients. 

ZEN’s services are available via desktop and a mobile app, in a transparent subscription model. Thanks to low costs, the latest digital innovations and great user experience, this Fintech tool is perfectly suited for managing shopping transactions, especially in the booming e-commerce sector. 

“As someone running my own international, digital business, I have encountered many challenges while managing my finances. Using traditional banking solutions has been taking up too much of my time and distracting me from the focus of growing my business. This experience has made me realize that there are other people like me who need a comprehensive, digital financial suite, which gives peace of mind in terms of managing money and shopping transactions. This is how the ZEN concept was born,” said ZEN’s founder, Dawid Rozek.

1 Global Ecommerce Market Ranking
2 Research from Growth Intelligence

Partnership to bring innovation

ZEN and Currencycloud identified that in order to offer ZEN’s customers the most flexibility possible and add the most value to their shopping experience, it was necessary to take advantage of the entire Currencycloud suite of products and services. Thanks to this cooperation, businesses using ZEN have the ability to create accounts for their customers that allow them to pay, collect and hold 35 currencies, as well as provide settlement solutions for customers using other PSPs.

Nick Cheetham, Chief Revenue Officer at Currencycloud, commented: “We have worked closely with ZEN to ensure they had the right services in place to successfully launch to both businesses and consumers. Currencycloud Spark, our multi-currency e-wallet solution, fitted perfectly with ZEN’s broader offer, and we look forward to watching them grow in the coming months and years ahead.”

ZEN’s solution, with Currencycloud as its trusted technology partner, is now available in 32 countries in Europe, with its digital money license passported across the European Economic Area. For more information visit www.zen.com.

ENDS

Notes to editors

Matt Rowntree

Senior Communications Manager, Currencycloud

[email protected]

About ZEN

ZEN is an international Fintech company with an electronic money license issued by the central bank of Lithuania, confirmed by European Banking Authority for the provision of financial services in 32 markets from European Economic Area. The company’s mission is to provide consumers and entrepreneurs with peace of mind in managing their money and purchasing transactions. To achieve this, the company offers a comprehensive suite of digital products and services, such as a payment card, multi-currency account, online payment platform, and associated unique benefits and additional protection for your purchasing transactions. These services are available to users via the mobile application and online transaction service. The company was founded by Dawid Rożek, creator of the international success of the auction site for players with 20 million customers, and is growing with the strategic support of Mastercard.

About Currencycloud

Moving money around the world is hard. Setting up overseas bank accounts and dealing with distinct regulatory regimes takes up time, money, and resources. Currencycloud removes that pain, helping customers achieve their ambitions sooner than they dared dream. With a global, multi-currency account infrastructure, customers are able to collect, convert, pay and manage multiple currencies, anywhere in the world. Launched in 2012, Currencycloud has processed more than $65bn to over 180 countries, working with banks and Fintechs around the world, including Starling Bank, Revolut, Penta and Lunar. Based in London with offices in New York, Amsterdam and Cardiff, Currencycloud works with partners including Visa, Dwolla, and Mambu to deliver simple, clear financial infrastructure solutions for clients. They are regulated in the UK, US, and the EU.