Together they will provide a solution for online payment in national currencies to Hips customers.

Banking Circle, the financial infrastructure provider for payment companies and banks, will provide Hips Payment Group with technology such as instant currency conversion, which will in turn allow Hips to provide payment product solutions globally. Customers therefore now have a tool to make purchases in their own currencies. 

The two companies in a statement explained that instead of sending expensive international transfers, Hips can use the Banking Circle infrastructure to send payments to merchants quickly, inexpensively, all in a compliant, secure manner.

"Our collaborative technologies will enable payment companies to seize more opportunities in the new economy," said Anders la Cour, Banking Circle co-founder and CEO. “Our partnership provides modern and efficient methods of international payment and settlement and foreign exchange.”

This article was originally published in French on Paperjam.lu and has been translated and edited for Delano.