Under the agreement, Allied Wallet has joined the Saxo Payments Banking Marketplace. As a result, Allied Wallet is able to streamline its process of accepting payments and making settlements in multiple currencies globally.

Allied Wallet offers online payment processing and merchant services solutions to online and mobile businesses, giving business owners a simple and secure way to accept payments online or through their mobile and tablet devices. As part of its focus on harnessing more global relationships, Allied Wallet needed to be able to make payments and settlements in a wider variety of currencies.

In contrast to conventional international banking processes, the Saxo Payments Banking Marketplace enables immediate transfers to settlement accounts worldwide at very low cost. Designed to empower the swathe of FinTech businesses seeking to service the global digital marketplace, Saxo Payments mitigates the prohibitively expensive traditional banking fees - often around 5% per transaction. The Saxo Payments Banking 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 - at less than 1%.

Andy Khawaja, Founder and CEO of Allied Wallet, comments, “As we continue to expand, Allied Wallet needs a competitive foreign exchange solution for a wider range of currencies. Saxo Payments stood out as the top choice for us because it offers low cost international transfers, with fast, reliable payments in more currencies. This partnership puts us in a confident position to support our business growth strategy, giving us safe, affordable payments online.”

Anders La Cour, Chief Executive Officer for Saxo Payments, adds, “This is an exciting partnership for Saxo Payments and we look forward to working closely with Allied Wallet, a growing brand in the international payments industry. 

“Through our global banking platform Allied Wallet can access the worldwide markets in multiple currencies to fulfil their plans for rapid expansion.”

At the heart of the Saxo Payments solution is a web-based banking platform to facilitate cross border transfers via domestic accounts in multiple currencies. The Saxo Payments Banking Marketplace provides businesses with access to a global account infrastructure, combined with a competitive FX solution operated on a fully secure and compliant clouded Oracle-based banking platform.