Currency Stream, a British FX and payments provider, today announced a “major investment” from Paycorp International to grow its business in Europe and fuel its expansion across the Americas, Africa, and Asia.
This relationship builds on a successful long-term engagement, with Paycorp having leveraged Currency Stream’s DCC solutions across Central and Eastern Europe and Southern Africa since 2017.
“This was a natural next step,” said Noel Goddard, Founder and CEO of Currency Stream. “We’ve worked closely with Paycorp for many years and share a common focus on performance, innovation and trust. This investment further cements that partnership, unlocks exciting growth opportunities in three new continents and gives us the scale to serve more partners, faster.”
Founded in 2011, Currency Stream is a FinTech platform that powers real-time currency conversions at ATM, POS and e-commerce systems worldwide. The proprietary algorithm – augmented by machine learning and developed over 20 years has processed over €8.5 billion in transactions in the payments space and operates across Germany, The Netherlands, United Kingdom, France, Italy, Spain, Ireland, South Africa and more recently, the USA.
By tapping into live interbank FX markets, Currency Stream reportedly delivers real-time, transparent Dynamic Currency Conversion (DCC) and MCP (Multi-Currency Pricing) to cardholders, merchants, and issuers at the exact moment of payment.
Steven Kark, CEO and Founder of Paycorp International, will join the Currency Stream International board, bringing his payments industry experience to the leadership team.
Steven Kark added: “Currency Stream has always delivered for us – with reliability, transparency and strong tech. When they shared their global expansion plans, it made perfect sense for Paycorp to partner with them to expand into Africa, Asia and the US. FX and multi-currency pricing are essential to cross-border commerce, and Currency Stream’s platform is best-in-class and sits very well within our portfolio of market leading value-add businesses in the payments space.”
Currency Stream’s platform currently supports over 140 currencies and is used by acquirers, gateways, processors and payment orchestration platforms globally. The new venture will extend these services to partners across retail, travel and e-commerce markets in high-growth regions.
