Currencycloud, a firm that helps businesses with international payments, has forged an alliance with South Korean remittance and payment provider SentBe to expand the reach  of its payments business in the region.

Under the partnership, Currencycloud will provide its Korean consumers and traders an improved and tailor-made solution to carry out international transactions.

SentBe will provide foreign exchange (FX) offerings to its clients to facilitate its expansion into the FX industry worldwide, through the alliance.

It will be able to deliver a fully automated payments process to its clients in Singapore and South Korea by combining Currencycloud’s APIs into its current FX management technology.

The integration will enable the customers to quickly send money to the UK, European Union (EU) as well as Canada and the US.

Currencycloud chief revenue officer Nick Cheetham said: “Like Currencycloud, SentBe is focused on making frictionless borderless finance a reality for its customers, opening up low-cost, seamless payments and transactions for everyone.

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“We are looking forward to the continuation of the partnership as SentBe continues its goal of expansion into the US, Canada, Australia and Europe.”

Currencycloud is currently operating as a unit of Visa after it was bought by the digital payments firm in December last year.

SentBe CEO Alex Seongouk Choi said: “By partnering with Currencycloud, SentBe can offer a wider range of solutions and choices to our customers, including competitive FX rates.

“We can give them the services they need to expand internationally. Additionally, Currencycloud’s easy-to-use platform has made our client service speed quicker and simplified the entire transaction process, shortening the time it takes for our clients to receive their money.

“This has attracted more clients and made SentBe more competitive.”