Saxo Payments launches new service for PSPs
(28 October 2015 - Europe) Global transactions service provider, Saxo Payments has launched a tool that allows Payment Service Providers (PSP) that do not have a licence to trade in Europe – and their merchants – the, enables immediate transfers to bank accounts both within the European Union and the rest of the world, at very low cost.
The Saxo Payments Banking Circle Access Europe, which was revealed at Money 2020 is operated on a fully secure clouded Oracle-based banking platform, and enables PSPs all over the world to enhance their merchant proposition.
“Banking Circle Access Europe enhances any PSPs value proposition, by enabling them to give non-European merchants the ability to trade in Europe as well as other geographies,” said Anders la Cour, Chief Executive Officer, Saxo Payments.
“With no need to go through the long process of applying for an International licence, merchants from anywhere in the world can grow their business and their profits on a global scale.”
Mutual members of the Banking Circle can pay or receive funds in seconds and free of charge, while transfers to non-members can also be completed next day payments at a low rate.
“Transfers can be made to partners in seconds, regardless of location, helping PSPs, card acquirers and other payment businesses attract more merchants and grow their business in new markets,” said la Cour.
“It’s a ground-breaking solution that truly makes a difference to global trade.”
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