Currency site XE.com, has partnered with London-based Currency Cloud to launch XE Money Transfers (XEMT), an speedy and transparent international payments service for business users.
XE is one of the most popular currency exchange rate checks in the world. The company is employing Currency Cloud’s cloud-based international payments platform to allow business customers to check for a fair rate and transfer on the spot with XEMT.
XE plans to launch XEMT as a beta service in the UK before the end of 2014.
XE conducted a global survey and found that 57 per cent of customers in the UK listed transparency of fees as one of their biggest concerns when transferring money. Worldwide, transparency was less important than competitive exchange rates, but almost as important as the speed of the money transfer itself. Both companies, however, are aiming to address all of these concerns in their collaborative product.
“Both of our companies put transparency and customer trust first, which made for a truly collaborative partnership in terms of both tech development and corporate philosophy,” said Mike Laven, CEO, Currency Cloud. “The integration of the two services resulted in a truly comprehensive platform that brings tremendous value to the overall market and its end-users.”
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