E-commerce and mobile payments business HIPS Payment Group is partnering with financial infrastructure company Banking Circle.
The partnership will enable Hips to offer settlement with domestic payment rails.
Hips offers a number of payment products for banks and FinTechs.
Hips can now use Banking Circle’s infrastructure to send payouts to merchants at a lower cost than international wire transfers.
“With this important partnership, Hips can easily provide our payment product solutions globally as Banking Circle allows us to offer instant currency conversion, providing our customers with a means to purchase any items or services in their own currency,” says chief executive of Hips, John Cavebring.
Anders la Cour, co-founder and CEO of Banking Circle said: “We are delighted to be working with Hips, as our collaborative technologies will further enable Payments businesses to seize more opportunities in the new economy. Our partnership provides modern and efficient methods of international payments and settlements and FX, underpinned by strong compliance enabling Hips to add value to its service proposition.”
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