Interbank FX Forms Partnership with Payment Service Provider GlobalCollect

by Mercator Advisory Group 0

Interbank FX, the Utah-based provider of retail foreign exchange services, and Global Collect, the Dutch service provider of “customer-not-present” card transactions, announced a new payments partnership that will channel nearly all of Interbank FX’s credit card receipts through WebCollect.

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n Manten, CEO of GlobalCollect, recognized the scale of Interbank FX’s activity: “We extend a warm welcome to Interbank FX who has established itself as an industry leader supporting trading volume in excess of US $80 billion per month.

”.

While it is not clear how much of that activity volume is settled using credit cards for payments, the win is clearly significant for GlobalCollect, which will pick up all the volume arising from Europe, the US, and Asia.

Interbank FX offers 35,000 individual traders, fund managers, and institutional customers from more than 140 countries proprietary technology and tools to trade forex online. The recently signed service agreement entails processing all credit card payments throughout the US, Europe, and Asia via GlobalCollect’s single-interface payment platform WebCollect.

Read article here: http://www.globalcollect.com/online-payments/news/2010/Interbank-forex-payment-service-provider-local-processing-channels-/