E-wallet Firm Signs Deal with Global Forex Platform

  • Payments
  • 29.03.2021 10:44 am

E-wallet provider STICPAY is signing a partnership agreement with CWG Markets, a leading financial platform trading provider.

The deal expands the choice for CWG’s customers to deposit and withdraw funds and conduct forex trades with STICPAY’s e-walletservices.

The e-wallet gives faster transfer payments than international bank transfers and users only pay deposit and withdrawal fees, with transfer fees covered by the merchant.

Forex trading, primarily corporate brokers, was 40% up in 2020 in day-to-day trading volume compared to the past decade. Additionally, retail forex (individuals) trading has grown owing to the high degree of accessibility of the sector and the need to generate alternative sources of income through the pandemic.

This latest deal is another step for London-based STICPAY in building-up its established customer base across European and Asian markets including Japan, China, Indonesia, the Philippines and Thailand. The fintech firm currently offers 33 wallets for both local fiat and crypto currencies, which include payment methods such as Visa and Mastercard, bank wire and local bank wire transfer in Asian countries.

CWG Markets provides international securities, contracts for differences (CFDs), commodities, global indexes, and other financial derivatives trading for global traders.

CWG Markets says: “STICPAY’s e-wallet will give our clients another fast and cost-effective way to transfer money while keeping the security they naturally expect. The deal will help improve our users’ experience, whether they are retail, forex traders, or corporate brokers.”    

STICPAY’s client service director James Bay says: “The partnership with CWG illustrates the trust leading global financial firms place in our delivery of payment services for their brand and customer base.”

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