SafeCharge in London is partnering with Saxo Payments to provide cross-border settlement account services.
SafeCharge will be able to offer its clients bank accounts under its own brand and the ability to settle transactions in multiple currencies, according to a Jan. 7 news release. The arrangement is designed to cut costs associated with currency conversions and worldwide transfers.
"Through this partnership we can expand our merchants business by offering a reduced rate, cross border payment solution," David Avgi, chief executive of SafeCharge, said in the release.
Financial terms of the partnership were not disclosed.
Saxo Payments, also in London, is a unit of Saxo Bank that provides global payments and foreign exchange services to acquirers, payment service providers, e-wallets and alternative payment providers.