LONDON & TORONTO--(BUSINESS WIRE)--The world’s favorite currency site, XE.com, has partnered with Currency Cloud to launch XE Money Transfers (XEMT), an international payments service for business users with a secure and seamless platform that provides greater transparency in the foreign exchange space. XE plans to launch XEMT as a beta service in the UK before the end of 2014.
XEMT combines XE’s world class user experience and Currency Cloud’s international Payments Engine to offer businesses the ability to transfer funds globally with a simple and easy-to-use money transfer service. XE and Currency Cloud developed the platform together to allow for a seamless customer journey. The new service capitalizes on XE’s 20 years of currency expertise and delivers competitive and transparent rates as well as unique business level functionality such as role based permissions, tracking, reporting and volume based pricing.
To better understand its customers’ needs, XE conducted a global survey and found that 57% of customers in the UK listed transparency of fees as one of their biggest concerns when transferring money. Worldwide, the top three money transfer issues identified by customers were competitive exchange rates (73%), speed of transfers (51%), and transparency (50%).1 Together, XE and Currency Cloud will address those concerns by providing a quick and transparent foreign exchange service with competitive rates.
“We've had a very positive experience working with Currency Cloud,” said Steven Dengler, CEO and Co-Founder, XE.com. “We are excited to launch a service that not only meets business needs, but also continues our 20 year commitment to deliver transparency, efficiency, and above all, respect for our customers.”
“Both of our companies put transparency and customer trust first, which made for a truly collaborative partnership in terms of both tech development and corporate philosophy,” said Mike Laven, CEO, Currency Cloud. “The integration of the two services resulted in a truly comprehensive platform that brings tremendous value to the overall market and its end-users.”
In the early 90s, XE was one of the first interactive sites on the web giving clients access to a mid-market rate while maintaining a commitment to transparency and openness. Like XE, Currency Cloud’s cornerstone philosophy is one of transparency and trust, making the partnership a natural fit for XE’s extension of services into the payments space.
About Currency Cloud:
Currency Cloud is transforming the international payments landscape by delivering international payments as a cloud-based service. It is built for companies – such as payments service providers, banks, and remittance and foreign exchange specialists – which need to provide international payments services to their customers. The service is transparent, easy to use, fast and trusted. Currency Cloud believes in a world where moving money is easy.
About XE.com:
Founded in 1993, XE.com Inc. is a privately held Canadian company focused on facilitating global commerce. As the world’s favorite currency site, XE.com ranks among the top 500 sites in the world. The company serves over 23 million unique visitors each month with a variety of tools and services including the XE Currency Converter, market analysis, and the XE Currency App, which has received over 30 million downloads. Since 2002, XE's Money Transfer services have processed more than $10 billion in global payments for thousands of businesses and individuals around the world. Additionally, the XE Currency Data Feed is used by thousands of businesses from SMEs to Fortune 500 companies.
__________________________________
1 Survey respondents: 1148