Deal will enable the money transfer company to send funds globally
South Korea-based money transfer operator (MTO) E9pay has partnered with Currencycloud, the experts simplifying business in a multi-currency world, to launch its “E9pay Collection Service” which will enable Korea-based merchants, SMEs, ecommerce players and exporters to quickly send and collect funds worldwide, starting with the US.
E9pay is the first company to acquire the Overseas Remittance Business No.1 License from Ministry of Economy and Finance (MOEF) of South Korea, providing overseas remittance and receipt services to and from 126 countries as of March 2023.
By integrating Currencycloud’s APIs into its existing platform, E9pay has been able to develop and launch its “E9pay Collection Service” allowing, for the first time, Korea’s SMEs and merchants to collect cross-border payment funds in a convenient way. The new service is key to E9pay’s goal of facilitating international payments for Korea’s globally-focused B2B market.
Hyuk Goo Jeon, CEO at E9pay says, “We are launching our new collections service called “E9pay Collection Service” with a well-trusted, global brand in Currencycloud. We expect this service to grow exponentially in the years to come as more of Korea’s merchants and businesses use it to transfer funds worldwide, faster and at lower cost than they are currently experiencing.”
Says Nick Briscoe, Country Manager of Australia at Currencycloud, “E9pay has led the way providing individuals in South Korea with a remittance service to over 126 countries. With the launch of their Collection Service, they are now able to give Korea’s merchants the ability to seamlessly collect multi-currency funds worldwide. We are delighted to be part of their customer-focused solution.”
Currencycloud gives businesses the capability to move money across borders, and transact globally in multiple currencies, fast. Experts at what they do, their technology makes it easy for clients to embrace digital wallets, and to embed finance into the core of their business - no matter what industry they’re in.
Since 2012, Currencycloud has processed more than $200bn to over 180 countries, working with banks, financial institutions and Fintechs around the world, including Starling Bank, Revolut and Lunar.
Based in London with offices in New York, Amsterdam, Cardiff, Australia and Singapore, Currencycloud works with partners including Dwolla, GPS and Mambu to deliver simple, clear cross-border infrastructure solutions for clients. They are regulated in the UK, Canada, US, the EU and Australia and were acquired by Visa in December 2021.
