eCommerceNews UK - Technology news for digital commerce decision-makers
Story image
TangoPay partners with Currencycloud for enhanced FX services
Mon, 4th Mar 2024

UK-based fintech TangoPay has announced a partnership with Currencycloud, enhancing its remittance service for UK-based expat customers by adding real-time competitive foreign exchange (FX) rates and several localized payment options.

The association with Currencycloud provides TangoPay with an opportunity to access an extensive range of services that will enable them to customise payment services in accordance with customer needs. Thanks to the operational efficiencies that Currencycloud's APIs offer, TangoPay can afford its customers substantial improvements in several key areas, including a significant reduction in average transaction time, lower transaction fees, real-time exchange rates, and a wider range of payment options.

Basir Sangerwal, the CEO and Founder of TangoPay, shared his insights on this partnership, stating that, "Currencycloud is an excellent fit for TangoPay. Before our integration, we relied on traditional foreign exchange methods which were effective, but it limited our scalability and the range of payment options we could present. These limitations made it more challenging to meet the evolving needs of our global customer base. However, since we have rapidly integrated with CurrencyCloud, using their APIs, we are now able to add new features and services for our clients, while also remaining true to our mission of being a real agent for financial inclusion."

Aleks Stefanovski, Chief Strategy Officer at Currencycloud, also commented on the partnership, "Since their launch, TangoPay has focused relentlessly on financial inclusion. They have strived to make it simpler for the UK's expat community to send payments to friends, family and businesses globally. By choosing to integrate with Currencycloud, TangoPay has further enhanced financial inclusion by offering competitive real-time FX and fast transactions, bringing clarity, value, and speed to global remittances. We are thrilled to be part of their vision and mission."

This partnership signifies a step forward in the remittance sector, allowing for more streamlined, efficient, and user-friendly transactions. It encapsulates the financial industry's ongoing drive towards optimising and enhancing services for the customer, in this case, the expat community, who rely heavily on remittance services.

On the back of this partnership, TangoPay have released an updated version of their app which is now available for download on Google Play Store and App Store.