Global payments platform Currencycloud has joined forces with fellow payments firm Tribe Payments to build a new banking-as-a-service (BaaS) platform for digital banks and fintechs.
The partnership will allow the two firms to offer transparent foreign exchange costs with international card transactions, whilst also offering access to multi-currency wallets.
As part of the collaboration, Tribe Payments is looking to offer virtual accounts in 35 currencies, enabling customers to receive and store funds and make payments by using Currencycloud’s infrastructure.
As well as offering new accounts, customers of Tribe Payments will have access to real-time, wholesale FX rates, further lowering the costs of making international payments.
“At Tribe Payments, we are on a mission to make payment processing simple and secure while letting our partners scale quickly.”