Currencycloud, the firm focused on simplifying business in a multi-currency world, has partnered with BriskPe, the Mumbai-based cross-border payments Fintech, in order “to expand BriskPe’s customers’ payment options.”
The partnership will open up international business opportunities “for its India-based micro, small and medium sized enterprise (MSME) customers, providing them with a broad, efficient range of cross-border payment solutions with access to more than 35 currencies while benefiting from competitive FX rates.”
Integrating Currencycloud’s APIs enables BriskPe to “leverage local account-based collections in key markets, including the UK, EU, Canada, and the USA, simplifying the collection, conversion, and payment process.”
An expanded collection service with named virtual accounts “will significantly help India’s MSMEs collect globally by facilitating easier, more diverse payment methods. With access to an automated, fast, error-free reconciliation process, and the ability to receive international earnings directly into their India-based bank accounts in a single business day, businesses will not only have rapid access to their funds, but they can focus on their growth ambitions.”
Sanjay Tripathy, Co-founder and CEO BriskPe said:
“Our collaboration with Currencycloud aligns perfectly with our mission to eliminate the complexities associated with international collections for MSMEs by simplifying international payments. What’s more, Currencycloud’s enhanced scalability allows us to deliver value to our clients without compromising on service quality.”
Rohit Narang, Managing Director of APAC, at Currencycloud commented:
“We are delighted to work with BriskPe and help facilitate its expansion in the international cross-border payment landscape. We look forward to working with them as they continue to enable India’s often under-represented businesses to thrive on the global stage.”
As covered in September 2023, Currencycloud, the Fintech focused on simplifying business in a multi-currency world, has more than tripled its Chinese customer growth rate across Asia-Pacific since establishing its APAC headquarters in 2021, “with its Chinese client base expanding from four to 12 organisations across the region.”
As one of the largest economies, China plays a pivotal role “in cross-border transactions and currency flows.”
The country’s rapid adoption of digital payment methods “along with the rise of e-commerce, has led to a substantial increase in the volume of cross-border transactions in recent years.”
Rohit Narang, VP of Visa Cross-Border Solutions, APAC, said:
“China stands as a pivotal cross-border market poised to emerge as the epicentre of a flourishing fintech ecosystem. We aim to continue facilitating swift and seamless transactions with higher visibility, at lower costs and greater interoperability for our customers.”