- Monoova, which is based in Australia, has confirmed that it will merge with Moneytech as part of a new push to improve global and local payments – and will retain the Monoova brand.
- The new arrangement will help to achieve the goal of streamlined payment processes both for local and international payments, the firm said.
- “Moving money seamlessly and securely across borders helps clients provide a high-quality experience to their customers and partners in overseas markets and brings financial inclusion to underserved markets,” said a senior figure at Moneytech.
Two providers in the cross-border payments space have confirmed that they will merge to help boost both local and global payments.
Monoova, which is based in Australia, said that it will be merging with Moneytech as part of a new push to bring together domestic and global payments.
Monoova is the brand that will be retained, it is believed.
Customers will be able to pick up a variety of tools to use when it comes to making global payments.
They will be able to benefit from one singular application programming interface (API).
“With the new Monoova platform, clients can automate the receipt, payment and management of domestic and cross-border funds – reducing costs and resource requirements and allowing teams to focus on growth and innovation,” explained Christian Westerlind Wigstrom, the co-founder and chief executive officer of Monoova.
“Our ultimate aim is to make the experience of moving money from Perth to Berlin as easy as moving money from Sydney to Brisbane.”
The company has recently been recognised for its quality at a set of prestigious awards, winning ‘FinTech Organisation of the Year’ at the Fintech Australia ‘Finnie’ Awards.
“Moving money seamlessly and securely across borders helps clients provide a high-quality experience to their customers and partners in overseas markets and brings financial inclusion to underserved markets,” said Andrew Kilroe, who serves as head of foreign exchange at Moneytech.
“We’re very excited at the opportunity to deliver this capability to the Australian market.”
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