QOLO AND MONEYCORP PARTNER TO DELIVER AN INTEGRATED CROSS-BORDER BUSINESS PAYMENT SOLUTION
Clients to Benefit from Lower FX Cost, Faster Processing, and Automated Money Movement
Fort Lauderdale, FL and Washington, DC – July 30, 2020 – Qolo, the B2B payments hub for the New Economy, and leading foreign exchange and international payments provider moneycorp, today announced the delivery of an integrated foreign exchange payment solution. Global businesses, importers and exporters, online sellers and multi-currency card programs can now access a lower cost, automated payment solution with same-to-same currency settlement.
Both moneycorp and Qolo are seeking ways to innovate how companies, especially those focused on the gig economy, and international business, can realize greater efficiency around payments, move away from high fees, time lags, and third party charges and address cross-border needs. Moneycorp clients have a trusted source with a global presence, local knowledge and expertise and are licensed to operate in 50 states. As a money services business, moneycorp US Inc. is regulated at the federal level by the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). The combination will allow clients 24/7 access to an online payment platform that provides speed and accuracy of payments and moves away from manual processes, saving time and money.
“Qolo and moneycorp share a drive to innovate and create better ways to process payments – we want to drive these practices to the next level,” said Bob Dowd, CEO of moneycorp US. “Qolo is an outside the box thinker which we strongly identify with, especially with our clients who need custom tailored solutions. Together we have created a unique service for different markets so they can better mitigate foreign exchange risk.”
“We want to continue creating new solutions for the industry. This partnership furthers access for companies seeking better ways to navigate global payments,” said Patricia Montesi, CEO of Qolo. “With moneycorp’s institutional strength, highly regulated structure and global reach, we can leverage our ability to process cross-border payments. We are experiencing explosive demand for these capabilities.”
Moneycorp operates as a bank in Brazil and Europe. Qolo recently launched, introducing a new all-in-one payment solution, aiming to address issues with speed, security and costs for B2B payments, for the payments industry.
Founded in 2018, Qolo is the B2B payments hub for the New Economy with a mission to help businesses navigate today’s complex payments and financial transactions landscape. Qolo empowers businesses to manage payments efficiently with an eye toward growth and reduced expense. Qolo supports companies wherever speed, security and cost of payment are important including gig worker payouts, distribution payments, multi-currency and cross-border businesses and modern fintech firms. Composed of experts and entrepreneurs in payments, Qolo’s founding team has more than a century of combined industry experience. Learn more at https://qolo.io/.
moneycorp is a leading provider of global payments and currency risk management. We pride ourselves on delivering high touch service and customized products that put our customers’ business first. Our team of knowledgeable, seasoned professionals create tailor-made solutions for seamless cross border payments and safeguarding FX risk exposure. Established in 1979, moneycorp serves global clients across North America, South America, Asia, Europe and Australia. Visit https://www.moneycorp.com/ to learn more.