Oanda partners with Currencycloud for cross-border payments

With more and more businesses adopting the digital mode of payments, commercial payments are moving to embrace and partner with other companies to up their game.

The latest example, US-based online multi-asset trading company, Oanda has partnered with Currencycloud which is a B2B cross-border payments company. Under this partnership, Oanda will provide international money transfer services to businesses in North America under Oanda FX Payments. ‘The new solution has been made possible through a joint collaboration with Shift Connect’, the press release said.

According to the press release, Oanda FX Payments enables the corporate clients to make cross-border payments in 35 currencies. This solution helps companies ‘reduce the cost of international transactions while hedging their currency risk and protecting their bottom line’. The press note also mentions that it would streamline the user experience.

Recently, Jaggaer partners with TransferMate to offer cross-border payments.

The head of Oanda FX Data Services, Lucian Lauerman said that the company is helping companies optimize cash flow, manage currency risk and build their bottom line.

“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,” said Dave Kelcher, CEO at Shift Connect.

Oanda FX Payments are available to corporate clients through Oanda Business Information and Services inc and also offers FX Data Services including Oanda Exchange Rates API.