Currencycloud, which focuses on simplifying business in a multi-currency world, and Pyvio, the fintech building ‘Glocal’ financial services infrastructure, have announced a partnership offering efficient and cost-effective cross-border payment solutions for Chinese e-commerce businesses operating in emerging markets.
The partnership will allow Pyvio to leverage Currencycloud’s technology in order “to collect and pay funds in over 180 countries and more than 30 currencies, including CNH and CNY.”
One of the main challenges faced by Chinese online merchants is “the payment collection and payout process in different markets, especially in emerging regions where infrastructure is not well-developed, and regulations are complex.”
Pyvio and Currencycloud aim to address “this challenge by providing a bespoke service for each merchant according to their specific needs and preferences.”
Rohit Narang, Managing Director, Currencycloud, APAC, said:
“Pyvio is a fast-growing business in an exciting space. For Chinese firms, the challenges they face in the payment collection and payout process are a real blocker to expansion – so the solution that the Pyvio team has built is much needed. This partnership will help the Pyvio team further disrupt the online e-commerce payment landscape in emerging markets, and we look forward to being on that journey with them.”
Li Kai, CEO of Pyvio, said:
“We are very excited to partner with Currencycloud as a new solution for online e-commerce businesses in emerging markets. Our solution will help Chinese e-commerce merchants overcome the barriers and challenges to global growth and boost their sales and revenue. We are also committed to constantly improving our service and adding more features and functions to meet the evolving needs and demands of our customers.”
Banks, Fintechs and businesses everywhere can “make bigger, better, bolder leaps with Currencycloud, a Visa solution.”
Currencycloud gives businesses the capability “to move money across borders, and transact globally in multiple currencies, fast.”
Their technology makes it easy for clients “to embrace digital wallets, and to embed finance into the core of their business – no matter what industry they’re in.”
Since 2012, Currencycloud has processed “more than $200bn to over 180 countries, working with banks, financial institutions and Fintechs around the world, including Starling Bank, Revolut and Lunar.”
Based in London with offices in New York, Amsterdam, Cardiff, and Singapore, Currencycloud works with partners “including Integrated Finance, GPS and Mambu to deliver simple, clear cross-border infrastructure solutions for clients.”
They are regulated in the UK, Canada, US, the EU and Australia, and “were acquired by Visa in December 2021.”
With a strong focus on technological innovation, Pyvio is “a fintech company dedicated to building robust global financial services infrastructure.”
Pyvio empowers companies to embrace “the thriving new cross-border economy through our cutting-edge solutions.”
Pyvio provides the widest coverage “of global payment network and customized payment solutions for the entire industry, integrating with global banks and payment providers, covers a greater number of emerging markets, and resolves cross-border funding issues.”
