Novalnet Partners with Banking Circle to Cut Cost of Fast Cross Border Settlement

Novalnet, a full-service Payment Provider, announced that it has partnered with financial services infrastructure provider, Banking Circle to offer its 12,000+ customers around the world faster and lower cost foreign exchange (FX) and settlement solutions.

This collaboration allows Novalnet to efficiently support its global clientele with local and cross border settlement at competitive rates and with faster reconciliation to help online merchants manage and maintain cashflow.

Novalnet will be able to provide customised services fulfilling all payment requirements, including payment processing of national and international payment methods, real-time fraud prevention and risk management, automated invoicing, subscription and member management, integrated marketplace solutions, claims management and simple reporting.

Meanwhile, Novalnet can offer like-for-like settlement in 24 currencies, avoiding double conversions that reduce the payment value through multiple conversions and FX mark ups. Leveraging Banking Circle Real-time FX, Novalnet is also increasing its FX margins and reducing the inevitable overheads of managing multiple international banking partners.

Gabriel Dixon, Founder and CEO of Novalnet commented: “Novalnet sets a high standard in the payment world by constantly innovating to deliver new features and functionality. Our payment experts build and develop tools and techniques that improve the performance and profitability of payment products worldwide, ensuring we provide our customers with a comprehensive, market-leading solution, focused on meeting their needs.