Connect with us

Top Stories

EML Payments Adds Value To Its Client Proposition By Joining Banking Circle

EML Payments Adds Value To Its Client Proposition By Joining Banking Circle

Innovative payment provider uses Banking Circle Virtual IBAN to enhance service offering

EML Payments, provider of innovative payment card technology solutions, has joined Saxo Payments Banking Circle.

Operating in sixteen countries across Europe as well as in Australia, USA and Canada, EML Payments’ platform issues and processes Scheme products on behalf of global corporates. Using Banking Circle Virtual IBAN, EML will be able to issue its clients with a dedicated account in their name, making reconciliation of card scheme flow much easier.

Bruce Stewart, Group CFO for EML comments: “Our clients use our technology to simplify their processes and offer their end consumers a better payments solution. By joining Banking Circle – and accessing Banking Circle Virtual IBAN – we can now provide our clients with the ability to reconcile the flow of funds quickly and simply, without the high fees and slow transfer times they have previously experienced.

“Membership of Banking Circle gives EML a strategic advantage enabling us to offer clients a tailored, transparent solution with negligible fees.”

Anders la Cour, co-founder and Chief Executive Officer of Saxo Payments Banking Circle added: “As a global provider working with high profile corporates, EML needed a solution that would provide cost-effective and time-efficient transfers even across borders. Traditional transfers took too long and the cost was prohibitive.

“Banking Circle Virtual IBAN gives EML a Master Account and allows the company to assign a Virtual IBAN account to each client, in their client’s name.  By, pointing the card scheme flow for each store to the relevant Virtual IBAN, this helps with reconciliation of inbound flow.

“Banking Circle Virtual IBAN is a serious game-changer in the cross border payments arena. It eliminates the need to set up multiple banking relationships, within each country and currency the bank or Financial Tech business wishes to trade. This provides a more tailored service to the financial institution’s clients, bringing a genuine competitive advantage over traditional FX payment solutions.”

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate


Newsletters with Secrets & Analysis. Subscribe Now