The new solution for fintech businesses opens up the global market by connecting sellers with international buyers without the need for multiple banking relationships. It allows financial companies to accept payments from marketplace buyers via a virtual IBAN account, bypassing the marketplace itself so that it remains exempt from the new regulations.
The company provides business with a set of accounts, to ensure end-to-end transparency. The financial businesses are able to accept payments from marketplace buyers into a virtual IBAN account in the name of the marketplace seller or the financial business and settle the funds back to the seller’s house account in the currency of their choice. The business can also provide marketplace sellers the ability to open multi-currency accounts in more than 25 currencies.
For more information about Saxo Payments Banking Circle, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
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