- KyckGlobal, which is compatible with more than 140 currencies from around the world, will offer automated clearing house (ACH) payment services in the US and across the globe.
- Businesses are expected to be the main users of the service, which is powered by leading cloud technology and will be useable for sending cash to customers in more than 200 countries.
- It will collaborate with Cambridge Global Payments, which is owned by the larger payments firm FLEETCOR.
A digital payments company based in the US has revealed its plans for a new cross-border payments service.
KyckGlobal said that it will work alongside integrated international payments provider Cambridge Global Payments to offer the new service.
The partnership will mean that international money transfers in well over 140 global currencies can be sent by customers to over 200 nations across the globe.
The two firms will focus the service on ACH payments in particular.
ACH stands for ‘automated clearing house’, and refers to payments that involve a payer giving a bank authorisation for certain payments to be made in the future.
On KyckGlobal’s part, the firm will offer the required technical infrastructure, which contains both in-country and global endpoints.
It will be up to the person who is receiving the payment to choose the right one for them.
The firm will also provide a portal designed to bring together all payment options and services into one centralised control panel.
Customers can then use this to place and track all of their different payments as they are sent.
Cambridge Global Payments will help KyckGlobal to take this service to both the home-based market in the US and also the wider world.
The main beneficiaries of the new service are expected to be private businesses that are looking to send cash abroad as part of their commercial activities.
KyckGlobal, which was set up in 2018, specialises in international business-to-consumer transactions.
It uses cutting-edge technology, such as cloud software, to do this.
On its website, the firm describes itself as focusing in particular on workers who are contract-based rather than on payrolls – such as those in the so-called ‘gig economy’.
“KyckGlobal’s software-as-a-service (SaaS) platform enables companies of all sizes to pay gig economy talent and contractors with streamlined, accurate, on-demand disbursements through eight types of payments,” the firm says.
It also shares more information about the ways that customers can benefit from using the KyckGlobal service.
“KyckGlobal is a cloud-based payment platform that reduces cost and complication for companies paying individuals outside the standard parameters of payroll and supplier channels,” it adds.
Cambridge Global Payments, meanwhile, offers a variety of services, including foreign exchange risk control tools.
It is owned by FLEETCOR, which is a payment product provider group.
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