"nPleo, one of Europe's leading spend management platforms, has announced the launch of multicurrency accounts, giving companies the power to hold and spend up to six currencies from a single Pleo card. Designed to eliminate the hassle and expense of cross-border transactions - whether travelling for business or dealing with international transactions - the new feature streamlines global business spending by automatically detecting the transaction currency and withdrawing funds from the corresponding account."
"Cross-border payments are growing at an unprecedented pace, set to reach $250 trillion by 2027. Yet for too many organisations, the hidden costs of overseas transactions are a major drain on resource and revenue. Business doesn't stop at borders, and companies needn't simply accept FX and transaction fees as an unavoidable cost of doing business. Our multicurrency accounts, enabled by our partners Mastercard, Banking Circle and Enfuce give businesses the flexibility to spend seamlessly across markets, protect against costly FX fees and make their money work harder."
Pleo launched multicurrency accounts that enable companies to hold and spend up to six currencies on a single Pleo card. The feature automatically detects the transaction currency and withdraws funds from the corresponding currency account. Companies can transact directly in local currencies, avoid unnecessary foreign exchange fees, and manage multiple currency balances with rule-based workflows. Users can convert between currency accounts and top up currency accounts from a bank account. The capability is enabled through partnerships with Mastercard, Banking Circle and Enfuce. Reducing FX fees addresses a significant source of revenue leakage for SMEs and improves cash flow and margins.
Read at London Business News | Londonlovesbusiness.com
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