Monneo Expands the Local Banking Network with a Global Leader
Virtual IBAN and corporate account provider, Monneo has associated itself with a global leader in money transfer services. It aims to expand its local banking network. The new agreement provides an indirect connection to more than 60 other local banks in Europe, North America, South America, Asia, and Australia to the firm’s customers. It will assist in boosting up transaction times on cross-border payments.
Now, cross-border payments can be conducted more efficiently for its customers. Monneo’s customers no longer rely on the SWIFT process, which can take up to a week to complete, when looking to execute cross-border transactions. Additionally, the company will settle international transactions within a day of making the request. It will happen by using its expanded network of local banks.
Monneo permits e-commerce merchants to receive and send payments in 134 currencies internationally and in several digital currencies. By leveraging new connections in its local banking network, its clients can combine the benefits of this flexibility with faster transaction timeframes. Already linked to eleven different international banks and with three further announcements expected imminently.
By using Monneo’s network, online merchants and B2B companies can set up multiple IBANs in their company’s name globally. Recently the company has launched its new card acquiring service, offering a proper end-to-end solution for e-commerce dealers.
Managing Director of Monneo, Lili Metodieva, said they are excited to offer corporate customers additional banking solutions for their businesses. By getting into a partnership with a global money transfer leader, they’ll be able to streamline the cross-border payment process dramatically. It will result in customers completing international financial transactions in a matter of hours, which will benefit them. The collaborations will further strengthen Monneo’s continued commitment to providing the best service to its customers. With the execution of this new service, they’ll be able to expand the network for payers and payees globally.