Safenetpay Joins Forces with Luxembourg-based Banking Circle

One-stop business payment solution provider, Safenetpay, has joined forces with Luxembourg-based payments specialist, Banking Circle, to further enhance its cross border payment offering.

Utilising Banking Circle’s multi-currency accounts, SEPA and SWIFT transactions solutions and foreign exchange (FX) capabilities, Safenetpay’s business customers can now access additional currencies, competitive FX rates and quick, reliable transactions within SEPA.

Safenetpay is an Electronic Money Institution, authorised by the Financial Conduct Authority (FCA) in the United Kingdom, which provides a one-stop solution for business payment needs. Safenetpay provides its customers (mainly small and medium-sized entreprises in the UK) with a single platform that offers multi-currency accounts, competitive FX rates, card payment processing and merchant accounts.

Partnering with Banking Circle will allow Safenetpay to serve a wider range of customers, whilst providing additional support to existing customers looking to expand into new markets. It will be able to extend its service offering without the usual investment required.

“Our ambition has always been to provide businesses with faster, easier access to banking and payment solutions both locally and cross border. Banking Circle shares that vision and our new collaboration will add value to the Safenetpay offering by allowing us to provide a wider range of options and currencies than we could with our previous partner", commented Sanjar Mavlyanov, CEO and founder of Safenetpay. “We can now give our customers the benefit of faster, less complex payments as well as access to more products, immediate FX and additional currencies including USD and CHF. The ability to accept payments and hold funds in more currencies is a vital part of our business plans, helping us serve a wider range of small businesses regardless of where they or their customers are based”. 

Anders la Cour, Co-founder and CEO of Banking Circle, added: “Most Safenetpay customers are SMEs – a group that we know often struggle with the impact of financial exclusion. Payments are traditionally too slow and too expensive, especially across borders, and that can hold small businesses back from achieving their global potential. In collaboration with Banking Circle, Safenetpay can now provide SMEs with access to international markets without the costly delays caused by traditional cross border payments and FX. Instead, businesses can focus on delivering the products and services their customers need".