South Korea-based money transfer operator (MTO) E9pay has partnered with Currencycloud, the firm aiming to simplify business in a multi-currency world, to launch the new ‘E9pay Collection Service’. The newest service will enable Korea-based merchants, SMEs, e-commerce players and exporters to send and collect funds worldwide more quickly, starting with the United States.
By integrating Currencycloud’s APIs into its existing platform, E9pay has successfully developed and launched the new E9pay Collection Service. E9pay explained that it hopes the service will enable Korea’s SMEs and merchants to collect cross-border payment funds in a convenient way, for the first time.
Hyuk Goo Jeon, CEO of E9pay, discussed the launch of the new service: “We are launching our new collections service called ‘E9pay Collection Service‘ with a well-trusted, global brand in Currencycloud. We expect this service to grow exponentially in the years to come as more of Korea’s merchants and businesses use it to transfer funds worldwide, faster and at a lower cost than they are currently experiencing”.
E9pay became the first company to acquire the Overseas Remittance Business No.1 License from the Ministry of Economy and Finance (MOEF) of South Korea, providing overseas remittance and receipt services to and from 126 countries – as of March 2023.
Rohit Narang, managing director of Asia Pacific at Currencycloud, also offered his perspective on the launch. Narang said: “E9pay has led the way in providing individuals in South Korea with a remittance service to over 126 countries.
“With the launch of their Collection Service, they are now also able to give Korea’s merchants the ability to seamlessly collect multi-currency funds worldwide. We are delighted to be part of their customer-focused solution”.
Currencycloud looks to give businesses the capability to move money across borders and transact globally in multiple currencies. The company’s technology makes it easier for clients to embrace digital wallets, and to embed finance into the core of their business – regardless of the industry they’re in.