DynaPay adds currencies and cuts cross border costs with Banking Circle

fr en

Innovative FinTech uses Virtual IBANs to add value for UK and European corporate clients trading internationally.

<< Back
29/04/2021 |
  • BC Anders La Cour CL

DynaPay, provider of intelligent and flexible FinTech solutions, has selected payments specialist, Banking Circle, to help it deliver fast and secure payment solutions for SMEs transacting globally and in multiple currencies.  
 
Based in the UK, DynaPay is an FCA regulated European FinTech solutions provider serving e-commerce, travel and other business clients across the UK and EU/EEA. As a ground-breaking provider of payments infrastructure, Banking Circle is providing DynaPay with Virtual IBAN accounts to enable local payments and collections across borders.  
 
By making payments ‘feel local’, Banking Circle is removing the need for DynaPay to have a physical presence in each country in which its customers operate, yet delivers payment costs comparable to those of local banks in the region. As DynaPay has found it is a game-changer to enhance their customer proposition, delivering faster and more cost-effective international payments for their business customers as well as competitive FX rates.  
 
“The DynaPay platform’s collaborative approach allows our clients to expand their services and markets across Europe,” commented Konstantin Zaripov, Managing Director of DynaPay. “We work with several carefully selected partners within the payments ecosystem to ensure we deliver the best possible solutions for our clients.  
 
“Banking Circle allows us to deliver transparent fees and competitive FX rates to help our SME clients transact globally in various currencies. Payments with Banking Circle are quick and secure, which means we can expand our payment capabilities and add value to our offering.” 
 
Anders la Cour, co-founder and Chief Executive Officer of Banking Circle added: “Our mission at Banking Circle is to tackle the legacy of high cost and slow international payments and DynaPay is another business that has seen the value we can add to their proposition.  
 
“Like Banking Circle, DynaPay’s sights are set firmly on the goal of industry-wide collaboration and the benefits it brings. Through Banking Circle Virtual IBAN, DynaPay is able to enhance the service it provides to its corporate clients, helping them to reach their global potential without the usual high cost and long transfer times of cross border payments and FX holding them back.” DynaPay is a Payment Facilitator approved by both Visa and Mastercard, offering Payment Accounts with dedicated IBANs for corporate clients and online payment acceptance for EU based merchants. Utilising the multi-award-winning, multicurrency banking solution, Banking Circle Virtual IBAN, DynaPay is increasing the currencies available to its corporate clients and reducing the cost of FX. 
 
Banking Circle Virtual IBAN gives financial institutions such as DynaPay the ability to issue multicurrency IBANs in their customer’s name and in multiple jurisdictions. Because this enables merchants to make and accept cross border payments in different currencies, in a way that traditional banks would simply not facilitate due to risk and legacy systems limitations, Banking Circle Virtual IBAN is a genuine gamechanger for the payments marketplace. 
 
Its intelligent payment rails offer direct real time payments in over 25 major currencies via SWIFT including direct local clearing systems covering CHF, CZK, DKK, EUR, GBP, HRK, HUF, NOK, PLN, RON, SEK, and SGD.  Banking Circle also offers 12 local payment channels across Eastern Europe & Nordics, instant payment notifications and treasury management. Based on McKinsey analysis of the ecommerce marketplace, Banking Circle processes 10% of the world’s B2C ecommerce payments; 250,000 payments a day which equates to 7.5 million payments a month.  
 
Senior Management Appointment 
 
In order to assist Banking Circle with, the strategic review of monetization options and also other areas, Mahir Zaimoglu is joining senior management in Luxembourg.  
 
Mahir joins with more than 20 years of experience in the financial industry, most recently as Managing Director and Head of Financial Sponsors M&A in EMEA for Goldman Sachs. Previously he headed up JPMorgan’s Sponsor M&A business in EMEA.  
 
Mahir has advised EQT, the majority shareholder of Banking Circle, on several highly successful exits in the past. 

Back to top  | << Back

Communiqués liés

Athome
06/05/2021

atHome Group devient actionnaire majoritaire de Taxx.lu

Le leader des services digitaux s’associe à la référence de la déclaration...

atHome Group
B-Medical-Systems
06/05/2021

B Medical Systems announces the opening of a new distributio...

B Medical Systems, a Luxembourg based global leader of vaccine cold chain soluti...

B Medical Systems
dury consult logo neu
06/05/2021 Personnalités

Le groupe Dury renforce sa direction : Martin Kerz est déso...

Le groupe DURY, dont le siège est à Sarrebruck, renforce son équipe de direct...

Dury Consult
BC Anders La Cour CL
05/05/2021

12 mois après le lancement de la licence bancaire, Banking ...

Une banque axée sur la technologie a traité 155 milliards d’euros de volume ...

Banking Circle
Annual Review 2014
05/05/2021

JEcolux2021: Making a difference for your business and your ...

Journée de l’Economie 2021 has ended for another year and the over 200 person...

PwC
pexels-johannes-rapprich-1482927
04/05/2021

Le « credit crunch environnemental » ou l’épuisement de...

Le nouveau rapport d’UBS intitulé « L’avenir de la planète » préconise ...

UBS

Il n'y a aucun résultat pour votre recherche

We use cookies to ensure the best experience on our website. By accepting you agree the use of cookies. OK Learn more