Saxo Payments, the global transactions services provider, has secured its fourth contract win in the space of a month.
The latest partnership, with Valitor, a leading online and e-commerce payment solutions company, underlines the appetite from the burgeoning FinTech sector for an alternative to conventional international banking processes.
Valitor operates internationally, offering payments services to a diverse range of merchants around the world. Vidar Thorkelsson, Chief Executive Officer at Valitor believes its merchant clients, who operate on a global footprint will benefit from the instant cross border transfers that will be made possible as a result of its membership of the Saxo Payments Banking Marketplace.
“The Saxo Payments Banking Marketplace tackles the big challenge for our merchant clients of processing cross border payments quickly and cost-effectively, enabling us to significantly enhance our customer proposition.
“By joining the Saxo Payments Banking Marketplace we can also reduce the amount of extra time and money which is inevitably spent when working with multiple service providers. Now we can manage all the cross border payments for our merchant clients from one unique solution. We are looking forward to working closely with Saxo Payments to enhance the Valitor service offering, allowing us to build on an already extensive customer portfolio across various international markets.”
In contrast to conventional international banking processes, the Saxo Payments Banking Marketplace enables immediate transfers to bank accounts worldwide at very low cost. Designed to empower the swathe of FinTech businesses seeking to exploit the global digital market, Saxo Payments mitigates the prohibitively expensive traditional banking fees - often around 5% per transaction. The Marketplace allows merchants to receive funds within minutes of clearing rather than having to work to conventional banking timescales, and at a fraction of the cost of traditional providers - around 1% or less.
Anders la Cour, Chief Executive Officer for Saxo Payments, added: “Valitor’s international client base demands a low cost payments platform that minimises risk and maximises convenience and flexibility. The Saxo Payments Banking Marketplace will enable Valitor to offer access to fast, effective global transfers that support business growth, while minimising risk.
“The fourth contract win in the space of a month for Saxo Payments, this emphasises how our innovative payment solutions are helping e-commerce providers meet the growing demand for global and cross border transactions.”