Currenxie, the Hong Kong-headquartered cross-border payments company, today announced its official participation in Amazon’s Payment Service Provider (PSP) Program. Through this programme, Amazon sellers around the world can now choose to use Currenxie to collect revenue from their sales and make payments to their suppliers anywhere, anytime, without additional fees.
The COVID-19 pandemic has fundamentally changed the eCommerce landscape. Consumer adoption of digital products and services, as well as online shopping, have exploded – leading to an increase of online sellers jumping to meet the demand. The PSP Program is part of Amazon’s continued efforts to be the safest and the most trusted store in the world for customers and sellers. Participating PSPs must have appropriate risk and compliance controls in place and work with Amazon to reduce the potential for fraud and abuse.
Amazon marketplace sellers now have the option to select Currenxie as their chosen global payment provider to receive their sales proceeds and access one of the largest virtual account networks in the world. Using Currenxie’s Global Account® to transact means that eCommerce sellers can leverage a virtual multi-currency account with over 18 currencies, which they can then use to send and receive payments locally with over 40 countries, without any correspondent bank fees.
Riccardo Capelvenere, Founder and CEO of Currenxie, said: “We are very pleased to become a member of Amazon’s PSP Program. The Program is designed to only accept the world’s most safe and secure cross-border payments companies – ones who are committed to helping sellers around the world have the freedom to pay and be paid anywhere. We will continue to provide high-quality service for our customers on a daily basis leveraging the strength of our global payments infrastructure that we’ve built.”
Alongside Amazon, Currenxie’s platform also connects to other eCommerce marketplaces like Shopify, Etsy and eBay, as well as payment gateway providers such as Stripe, Alipay and PayPal. The company’s successful USD 10 million Series A funding round in August 2021 has allowed Currenxie to accelerate its vision of empowering businesses to access global commerce and was followed by the launch of its Visa card in November 2021 for Hong Kong-based clients.
Amazon’s Payment Service Provider Program is designed to enhance its ability to detect, prevent and take action against bad actors so Amazon and participating PSPs can continue to protect customers and sellers from fraud and abuse. Please see Amazon’s PSPP Policy Help page for important details here), and the FAQ page here for important dates.