Tuxedo Money Solutions, a UK-based payments technology firm, has selected Saxo Payments Banking Marketplace to deliver fast, compliant and secure international transactions.
Under the contract, Saxo Payments Banking Marketplace will offer fast cross border transfers for Tuxedo Money Solutions and its corporate client base, in all major currencies across the world at significantly low cost compared with banks.
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The Saxo Payments Banking Marketplace enables merchants to receive funds within minutes of clearing and at a fraction of the cost of traditional providers approximately 1% or less.
Tuxedo Money Solutions CEO John Sharman said: "By partnering with Saxo Payments, we will be able to deliver a truly global cross border payments solution focused on delivering low cost transfers to our multinational client base."
Saxo Payments CEO Anders la Cour said: "We are enabling enterprises with international client bases, like Tuxedo, to focus on their core business while extending their value chain and product offering, allowing them to compete directly with the banks."
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