Currencycloud and Carta Worldwide partner to add greater transparency to international card payments
Blogs on 12th May 2020
Carta Worldwide, an innovator in digital transaction processing, and Currencycloud, the leader in providing embedded B2B cross-border solutions for platforms of the future, have partnered to bring increased transparency, real-time foreign exchange at the point of sale, and an enhanced customer experience to international card transactions.
Currently when traveling abroad or making an international card transaction, cardholders are faced with a complete lack of transparency on what fees they pay and what the exact exchange rate is. The exchange rate that customers ultimately end up paying is not the rate given to them at the point of sale.
This poor experience has been addressed by a wave of challenger banks with real-time FX rates and cheaper, more transparent fees being offered. This partnership will allow issuers to very easily be able to offer similar services to start-ups and existing challenger banks.
Steve Lemon, Head of Strategic Partnerships and Co-founder comments: “This is an exciting partnership and the first of its kind, combining our respective skill sets to drive innovation and give customers further transparency on their international card payments. Our partnership is really putting the customer at the centre of the offer and helping to solve a crucial problem for them.”
Richard Wray, Managing Director EMEA, Carta Worldwide comments: “We are very excited about this partnership. Carta’s innovative processing capabilities collaborating with one of the most reputable platforms in the industry will enable us to deliver some real change to customers across the world.”
Currencycloud and Carta are currently in the development phase with the first joint product expected in the second half of this year which will be available for issuers.
For more information contact: firstname.lastname@example.org
Carta Worldwide contact: email@example.com
Currencycloud’s technology is unlocking the global economy for payment platforms of the future. Today, Currencycloud has 85 different APIs across four modules – collect, convert, pay and manage – that cover the entire workflow in B2B cross-border payments. The as-a-service platform is proprietary and is fully cloud-based on AWS using Restful APIs. Launched in 2012, Currencycloud is based in London and is regulated in Europe, the U.S. and Canada, and has processed more than $50bn to over 180 countries. Currencycloud works with banks and Fintechs globally including Starling Bank, Standard Bank South Africa and Brookline Bank, as well as partnering with Visa to deliver innovation in travel payments.
About Carta Worldwide
Carta is an award-winning leader in digital transaction processing and enablement technologies, with a keen eye on delivering products that pave the way for global commercialisation. Carta empowers issuing banks, fintechs, digital service providers, program managers and more to enable existing cardholder accounts or issue new and innovative products for the digital world. Carta’s unique Cloud Suite platform enables rapid deployment of both card and mobile solutions with breakthrough technology that overcomes technical constraints of existing systems and infrastructure.