UK secure digital payments firm Shieldpay has announced a new partnership with Western Union Business Solutions (WUBS) to provide foreign exchange (FX) on international transactions.

Shieldpay’s payments network protects both buyer and seller in any transaction by verifying the identity of all parties. Funds are held securely in the Shieldpay Vault, and are only released when both parties agree.

The partnership will give the company access to WUBUS' global network, which has the ability to send, receive and manage international payments, send funds in 140+ currencies, receive funds in 40+ countries, with a reach of more than 200 countries and territories.

“Whether receiving funds or making payments in multiple currencies or jurisdictions, our partnership will help our customers protect business payments by allowing them to lock in currency rates when they first receive a foreign currency, meaning that they will be protected against Foreign Exchange (FX) fluctuations,” said Daniel Dunne, head of partnerships, Shieldpay.

Share Story: