Peloton Technologies, a Canadian fintech that brings end-to-end payments services to Canadian businesses, has launched Self-Serve Currency Exchange. It says the new capability allows businesses to independently manage currency exchange from their own devices, streamlining cross-border commerce.

“Self-Serve Currency Exchange means a business owner can keep track of FX rates in real time, complete cross-border transactions seamlessly, and quicken the pace of their business transactions,” said Craig Attiwill, Founder and CEO of Peloton Technologies.

“For more than a decade, Peloton has been focused on breaking down every barrier a business owner faces when it comes to their payment experience so they can better serve their customers. This is another great example.”

Bank and fintech partnership empowers Canadian businesses

The fintech had access to the APIs of one of Canada’s largest and most reputable financial institutions. As a result, it was able to innovate on a traditional service offering.

Peloton has long provided businesses with currency exchange to support their business transactions. This includes making an international supplier payment, transferring funds to a foreign bank account and converting Canadian and US dollars.

The new Self-Serve Currency Exchange capability lets business owners manage all of these transactions independently from their own devices. With that, business owners can make fewer trips to the bank. They can monitor foreign exchange rates in real-time, reduce costs and act on international purchases and sales much more easily

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“We are exporting to 30 countries and have been looking forward to this release from Peloton for some time,” said Fabian Wolk, CEO of climate technology manufacturer Rockland Scientific. “Self-serve currency exchange will certainly enable a smoother flow of our cross-border transactions. Peloton’s highly competitive rates will also reduce our exchange rate costs. This is a win for small businesses with a global footprint.”