Saxo Payments, the global transactions services provider which is part of Saxo Bank, today announces the expansion of the reach of the Saxo Payments Banking Circle through the addition of six new currencies.
In response to customer demand, Banking Circle transfers can now be carried out in United Arab Emirates Dirham (AED), Hong Kong Dollar (HKD), Romanian Leu (RON), Saudi Riyal (SAR), Singapore Dollar (SGD), and the South African Rand (ZAR). The new currencies add to the existing offering of 20 currencies.
Anders la Cour, Chief Executive Officer, Saxo Payments, says,
“The launch of the Banking Circle in 2015 was designed to help payments businesses reach new markets worldwide, without the financial and process burdens of traditional banking. We are already helping our members and their partners make global transfers in a wide range of currencies. With the addition of these new currencies, we are opening up cross border payments for an even wider range of businesses.”
Each member of the Saxo Payments Banking Circle can provide bank transfer capabilities in its own name, competing directly with the banks in terms of offering the ability for merchants to pay suppliers and partners around the globe at low cost.
Merchant Members can cut the cost of international bank transfers substantially, sending and receiving transfers instantly and without incurring a landing fee to a recipient within the Banking Circle – no matter where they are in the world.
“Now with more global currencies than ever, more businesses can harness the power of the Saxo Payments Banking Circle”, added Anders la Cour. “We are aiming to empower more and more FinTechs to add value to their merchant proposition on a global scale, with faster, low cost payment capabilities.”
You can view the full announcement from Saxo Payments by clicking here.