International Finance

Banking Circle Virtual IBAN named best alternative payment solution

For the second consecutive year, Banking Circle Virtual IBAN has been named Best Alternative Payment Solution at the Merchant Payments Ecosystem Awards

With its second award-win of 2019, Banking Circle has confirmed its position as the provider of choice for cross border merchants.

The Merchant Payments Ecosystem (MPE) Awards, now in their twelfth year, are the only European awards dedicated to recognising the achievements of the top European merchant payments acceptance companies. Winners were announced at a ceremony in Berlin, forming part of the MPE annual conference and exhibition, the biggest of its kind in Europe.

Anders la Cour, Co-founder and Chief Executive Officer of financial utility Banking Circle, said: “This win recognises the important role BankingCircle Virtual IBAN is playing in delivering faster, cheaper payments to merchants transacting around the globe. Unlike traditional business to business cross border payments, which can incur high bank charges and payment delays, Banking Circle Virtual IBAN negates the need to have several banking relationships and enables financial institutions to give their customers their own virtual IBANs, improving payments acceptance, settlement times and reconciliation.”

Banking Circle Virtual IBAN offers a multi-currency business solution for customers in their own name and in multiple jurisdictions, allowing them to make and receive payments instantly. More and more Financial Technology businesses and banks are turning to the innovative service to allow them to offer their merchant customers access to international business bank accounts and cross border payments, without the burden of multiple banking relationships, high fees and slow transfer times.

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