Global transactions services provider Saxo Payments has secured a partnership with end-to-end account solutions group PSI-Pay. The PSP becomes the latest payments firm to join Saxo’s Banking Marketplace.
‘Enlightened approach to its prospective clients’
PSI, who are regulated by the FCA in the UK and is a primary affiliate of MasterCard, enable their customers to make online payments by setting them up with an electronic money account.
Through signing up to Saxo’s Banking Marketplace, PSI can offer more efficient and secure cross-border money transfers to its consumer base.
The PSP can now provide its customers with a Saxo Payments segregated IBAN account which allows them to make payments to their merchants. Customers will also need to have a PSI-Pay digital wallet or prepaid card to make any form of payment.
Phil Davies, managing director of PSI-Pay, is delighted with the new partnership, highlighting the benefits of Saxo’s Banking Marketplace.
‘‘Our customers are diverse, but they all need to be able to provide a secure, real-time, online ‘bank’ functionality to their customers or employees and our membership of the Saxo Payments Banking Marketplace enables us to meet this need whilst remaining completely compliant,’’ said Davies.
‘‘Compared to traditional banking services, Saxo Payments has an enlightened approach to its prospective clients. By taking the trouble to understand our business thoroughly, it suggested a very workable solution, which mirrors the way PSI-Pay operate,’’ added Davies.
‘‘Saxo Payments has already demonstrated its genuine desire to work in partnership with us to our mutual benefit. We believe this partnership will help improve our workflow, decrease our overheads and improve our bottom line.’’
Establishing working relationships
Saxo Payments is no stranger to making partnerships with other transaction firms. In June, Payment Eye reported that Saxo teamed up with online payment processing provider Allied Wallet.
A week later we were bringing you the news that Saxo has ventured into the e-commerce world through a partnership with commerce solutions firm Valitor.
Turning its attention to PSI-Pay, Saxo CEO Anders la Cour listed the benefits of its latest partnership.
‘‘Our web-based banking platform allows businesses to handle transfers in real-time, at a fraction of the cost of traditional banking services, and in their own brand,’’ stated la Cour.
”Through the Saxo Payments Banking Marketplace PSI-Pay can deliver a better proposition, saving time for its staff, while reducing costs on payments anywhere in the world for its customers.’’
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