Allied Wallet Joins Saxo Payments Banking Marketplace

June 23, 2015         By: Melanie Macinas

Allied Wallet, a provider of e-commerce merchant services and online payment processing services, has joined the Saxo Payments Banking Marketplace in order to support its rapid global expansion plans.

Under the partnership, Allied Wallet will be able to simplify payments acceptance and settlement transactions in multiple currencies worldwide.

The Saxo Payments Banking Marketplace offers businesses access to a global account infrastructure and a competitive FX solution run on a secure and compliant cloud and Oracle-based banking platform. This web-based platform facilitates cross border transfers via local accounts in multiple currencies.

Designed to help fintech businesses seeking to serve the global digital marketplace, the Saxo Payments Banking Marketplace offers several advantages over conventional international banking processes.

This solution facilitates immediate transfers to settlement accounts worldwide at a low cost, mitigating expensive traditional banking fees, which often stand at about 5 percent for every transaction. It also allows merchants to receive funds in a matter of minutes of clearing and at just a fraction of the cost of traditional banking providers.

Andy Khawaja, Founder and CEO of Allied Wallet, commented, “As we continue to expand, Allied Wallet needs a competitive foreign exchange solution for a wider range of currencies. Saxo Payments stood out as the top choice for us because it offers low cost international transfers, with fast, reliable payments in more currencies. This partnership puts us in a confident position to support our business growth strategy, giving us safe, affordable payments online.”