European mobile payments pioneer, Settle Group, provider of the mobile payment service Settle in 22 EU markets, has partnered with Currencycloud, a leading provider of B2B embedded cross-border solutions, to add foreign exchange and cross-border payments for its wallet users and business customers across Europe.
The partnership also enables Settle to expand its payment network, by enabling local payouts in markets where Settle is not connected through its own bank partnerships. This connectivity was instrumental in Settle’s recent launch in Bulgaria, the 22nd market where Settle Group has launched its award-winning mobile payment service.
Settle has traditionally built its own technology and products and this is the first time it has worked with a third party to deliver a solution for its customers. The integration took less than two weeks thanks to the stellar technology and competence on both sides. The end result is full flexibility for Settle’s clients, both consumers and businesses across 22 EU markets, so they can pay and get paid, manage their money and grow their business in any currency, with local payouts.
Settle Group CEO, Daniel Doderlein, says of the partnership: “Our partnership with Currencycloud is the first of its kind for us. We see that Currencycloud, as a long-standing fintech, such as ourselves, provides rock-solid technology and capabilities that help accelerate our business and our abilities to pursue our vision of creating a service that seamlessly integrates with a company’s pre-existing billing flow. After standing shoulder to shoulder at financial services conferences for a decade, it’s a rewarding experience to work with fintech enablers like Currencycloud.”
Steve Lemon, Vice President Strategic Partnerships & Co-founder of Currencycloud, commented: “Our purpose at Currencycloud is to re-imagine the way money flows to create a better tomorrow for all. Our partnership with Settle does exactly that, for both businesses and consumers and we’re looking forward to growing the partnership moving forward.”
Settle envisions a world where money is digital and democratized. Settle Group provides the Settle app and Settle for Business acceptance and commerce tools, enabling valuable connections between people and businesses.
With the Settle app, people can send, receive and manage money instantly from their phone. With Settle for Business, a suite of self service payment and commerce tools, and the Settle API, any business can accept digital payments, in any situation, without relying on hardware.
Settle is available in 22 EEA markets, delivered on a collaborative partnering model. Trusted local brands help bring Settle to people and businesses all over Europe.
Settle is the culmination of 10-years worth of mobile payments history. The team behind Settle have been making a name for themselves as leaders in mobile payment and commerce since 2010. From their headquarters in Norway, they’ve spent more than a decade developing an award-winning and world-class financial services platform. They developed the first mobile payments platform in the Nordics and launched the first mobile payments scheme in Norway (mCASH), impacting the lives of millions of people and helping to fundamentally change the way people pay and get paid. This experience and technology is now being applied by Settle Group to establish the largest collaborative mobile payment network across Europe.
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.
Matt Rowntree, Head of Communications