OANDA Partners with Currencycloud to Boast Cross-Border Money Transfers

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The ever-expanding arena of digital payments, companies are constantly striving to diversify their offerings to boast their operational viability. Cross-border money transfer to be facilitated by the new joint venture between OANDA and Currencycloud. OANDA partners with cross-border solutions provider Currencycloud to launch a new offering the market called OANDA FX Payments. This new offering will serve as a new option for cross-border money transfer for the North American businesses seeking to avail of alternative options with variegated features in the domain of digital payments.

Highlights of OANDA FX Payments

OANDA FX Payments has been made possible via a joint effort with foreign exchange (FX) consultants Shift Connect. OANDA is committed to make cash flow as ideal as possible for all firms. OANDA FX Payments lets business customers conduct international payments in 35 currencies via a digital infrastructure. The offering assists firms in decreasing the expense of cross-border transactions. It also hedges their currency risk and safeguards their bottom line, according to the announcement, which also notes that the platform provides tailored support to customers.

Lucian Lauerman, Head of OANDA FX Data Services spoke on the launch of this joint venture stating, ‘We’re delighted to be partnering with Shift Connect and Currencycloud in order to add OANDA FX Payments to our best-in-class range of corporate currency solutions, which are trusted by audit firms, tax authorities and multinational corporations all over the world.”

Accessing the Platform

OANDA Business Information and Services Inc. can be used by customers to access the OANDA FX Payments option. Not only this, but the firm is also ensuring the provision of a varied plethora of data services to the business customers. The FX Data Services will include the coveted OANDA Exchange Rates Application Programming Interface (API).

A similar announcement was made in August when payment solution provider Contis collaborated with Currencycloud to provide global payments to about 1 million accounts. This joint effort was initiated with the objective of allowing the conversion of the British pound to over 30 currencies as well as aid in the transfer of amounts across 50 countries.