ONPEX cross-border payment services will now be available Lithuanian e-money firm SatchelPay.
Under the agreement, SatchelPay will leverage ONPEX’s API to integrate SWIFT payments and manage different currencies.
This will enable SatchelPay to facilitate cross-border sending and receiving of funds in 25 currencies. Each client will be able to avail the service using one multi-currency IBAN account.
At the same time, SatchelPay clients will hold the IBAN account in their own name and unique reference number. This, according to ONPEX, will speed up the reconciliation process.
Thomas Jackson, SatchelPay CEO said: “We were seeking highly-skilled specialists to take our IBAN offering to the next level – ONPEX’s expert team proved to be the perfect fit. One of the greatest benefits of our collaboration was the fact that ONPEX was able to deliver in a fraction of the time a tailor-made solution via the use of its flexible API-driven approach.
“This has led to a number of cost and time savings across SatchelPay as an organisation, which means that we can also share these benefits with our clients. In short, ONPEX has given SatchelPay an even greater competitive edge in a crowded market.”
SatchelPay’s selection of ONPEX as a partner is said to have been triggered by increasing demand for international multi-currency pay-in and pay-outs by clients.
The Lithuanian firm currently tends to SEPA zone clients through a unique EUR IBAN solution.