Visa and has launched a cross-border money movement service for payment institutions in conjunction with Currencycloud.

The global payments provider said Visa Cross-Border Solutions combines its cross-border and cash management capabilities with additional provisions enabled by its 2021 acquisition of Currencycloud.

The new offering is comprised of a suite of modular building blocks which can be integrated into a company’s existing technology infrastructure.

Visa said this is achieved through an API and that these building blocks enable capabilities including receiving payments in multiple currencies, foreign exchange (FX) with real-time rates, multi-currency wallets that hold more than 30 currencies, and the ability to spend in, and send payments to, more than 180 countries and territories.

“In launching Visa Cross-Border Solutions, our focus has been on bringing out the best of Visa and Currencycloud: blending reliability, security, and innovation,” said Aleks Stefanovski, vice president strategy and business operations, Visa Cross-Border Solutions.

“Most importantly, we’ve been laser-focused on building a suite of tools that are suitable for the kinds of companies we work with – all of which are held to high standards on compliance, security and customer experience,” he added.

Share Story: