By becoming members of the Banking Circle, WaveCrest will be able to extend its value chain for members of its MyChoice payment services. WaveCrest helps businesses to streamline corporate expenses, commissions, and incentive and travel payments.
WaveCrest will use the Banking Circle Virtual IBAN for receiving funds from its B2B clients and cardholders. It will also have access to multiple virtual IBAN accounts to support the loading and reconciliation of funds in GBP and Euros on individual prepaid cards and up to 26 currencies for B2B accountholders.
By and large, international payments can take many days to clear, but the Banking Circle offers its solution so that payments be more like local transfers. In addition to multi-currency IBANs, MyChoice accountholders will benefit from the integration of Banking Circle foreign exchange services and outward bank transfers to the UK, SEPA and international markets.
Banking Circle Virtual IBAN provides transaction transparency, reducing AML and KYC risk, as well as reducing payments acceptance and screening time by eliminating the likelihood of processing errors.
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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