OANDA adds new cross-border payment solution for companies in North America

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Jan 27, 2021, 08:00 ET

NEW YORK, Jan. 27, 2021 /PRNewswire/ -- A global leader in online multi-asset trading services and currency data and analytics, OANDA has joined forces with Currencycloud, a leading provider of B2B embedded cross-border solutions, to deliver a new international money transfer service to companies in North America. Called OANDA FX Payments, the new solution has been made possible through a joint collaboration with Shift Connect.

OANDA FX Payments enables corporate clients to make cross-border payments in 35 currencies, quickly and easily through a safe and reliable online platform. The solution helps companies reduce the cost of international transactions while hedging their currency risk and protecting their bottom line. Featuring a streamlined user experience, the platform also offers clients a completely personalized customer support service.

The partnership combines OANDA's deep-seated expertise in foreign exchange with Currencycloud's best-of-breed payment technology and Shift Connect's world-class customer support to offer a simple-to-use, reliable international money transfer solution for businesses, large or small.

Lucian Lauerman, Head of OANDA FX Data Services, said, "One of the world's leading FX authorities, OANDA is dedicated to helping companies optimize cash flow, manage currency risk and build their bottom line. As such, 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."

"As we have started to expand into new territories across the globe, and our partnership with Currencycloud expands, we were uniquely placed to create new solutions for OANDA's corporate FX clients who make international payments," explained Dave Kelcher, CEO at Shift Connect.

Richard Arundel, North American General Manager & Co-founder of Currencycloud, commented, "This is a unique proposition for OANDA and its corporate FX clients. By working closely with our existing partner, Shift Connect, in North America, we have been able to create a one-of-a-kind cross-border payment solution for OANDA."

OANDA FX Payments is available to corporate clients through OANDA Business Information and Services Inc. The firm also offers a wide range of FX Data Services including the OANDA Exchange Rates API, which provides access to daily averages, spot and forward rates, central bank exchange rates and tick-level data for 38,000+ currency pairs, over 200 currencies, commodities, and precious metals, as well as exchange rates sourced from 25 central banks and historical currency rates that date back to 1990.

About OANDA

Founded in 1996, OANDA was the first company to share exchange rate data free of charge on the Internet, launching an FX trading platform that helped pioneer the development of web-based currency trading five years later. Today, the group provides online multi-asset trading, currency data and analytics to retail and corporate clients, demonstrating an unrivalled expertise in foreign exchange. With regulated entities in eight of the world's most active financial markets, OANDA remains dedicated to transforming the business of foreign exchange. For more information, please visit oanda.com or follow us on Twitter, Facebook, or LinkedIn.

About Currencycloud

Moving money around the world is hard. Setting up overseas bank accounts and dealing with distinct regulatory regimes takes up time, money, and resources. Currencycloud removes that pain, helping customers achieve their ambitions sooner than they dared dream. With a global, multi-currency account infrastructure, customers are able to collect, convert, pay and manage multiple currencies, anywhere in the world. Launched in 2012, Currencycloud has processed more than $65bn to over 180 countries, working with banks and Fintechs around the world, including Starling Bank, Revolut, Penta and Lunar. Based in London with offices in New York, Amsterdam and Cardiff, Currencycloud works with partners including Visa, Dwolla, and Mambu to deliver simple, clear financial infrastructure solutions for clients. They are regulated in the UK, US, and the EU.

About Shift Connect

Shift, Canada's most trusted FX consultants helping businesses efficiently navigate international currency markets to maximize value and minimize risk, offering unbeatable rates and unrivalled service. For more information visit: www.shiftconnect.com.

SOURCE OANDA