By Legal futures Shieldpay Associate
Shieldmarket leader in secure digital payments, announces its partnership with Western Union Business Solutionsa global leader in cross-border, cross-currency money movement and payments to provide customers with secure online payments and foreign exchange (FX) capability when transacting internationally or transacting in foreign currencies.
Today, companies receive funds, buy and sell internationally, make foreign investments, finance imports, pay foreign mortgages and buy raw materials all over the world in various currencies. But unpredictable exchange rates can negatively impact business transactions of all sizes, especially when the transactions are high value.
Shieldpay protects online payments, from high-value, high-risk payments to thousands of time-sensitive transactions every day. This is done through verification, secure holding of funds and any volume or value of payments dependent on specific criteria before a transaction can be completed. The end-to-end process frees up time and resources and helps businesses and consumers protect against payment fraud and ensures compliance with local payment regulatory requirements.
Daniel Dunne, Head of Partnerships, Shieldpay, commented:
“Whether receiving funds or making payments in multiple currencies or jurisdictions, our partnership will help our customers protect business payments by allowing them to lock in exchange rates when receiving foreign currency. for the first time, which means they will be protected against foreign exchange (FX) fluctuation”
WUBS provides access to FX on a global network, with the ability to send, receive and manage international payments, send funds in over 140 currencies, receive funds in over 40 countries, expand reach to more than 200 countries and territories and protect payments against unfavorable exchange rates.