Currenxie, the Hong Kong-headquartered cross-border payments company, has announced its official participation in Amazon’s Payment Service Provider (PSP) Program.
Through this program, Amazon sellers all around the world can now choose to use Currenxie to collect money from sales and pay suppliers anywhere, at any time, without incurring any additional expenses.
The pandemic of COVID-19 has profoundly altered the eCommerce scenario. Consumer acceptance of digital products and services, as well as online purchasing, has skyrocketed, prompting an increase in the number of online retailers to spring into action to fulfill the demand. The PSP Program is an extension of Amazon’s ongoing efforts to be the world’s safest and most trusted shop for both customers and sellers. Participating PSPs must implement adequate risk and compliance measures and collaborate with Amazon to reduce the potential of fraud and abuse.
Amazon marketplace merchants can now use Currenxie as their chosen global payment provider to receive their sales revenues and gain access to one of the world’s largest virtual account networks. When eCommerce retailers utilize Currenxie’s Global Account to transact, they gain access to a virtual multi-currency account with over 18 currencies, which they can then use to send and receive payments locally in over 40 countries without incurring any correspondent bank fees.
Currenxie’s platform integrates to various eCommerce marketplaces such as Shopify, Etsy, and eBay, as well as payment gateway providers such as Stripe, Alipay, and PayPal. Currenxie’s successful USD 10 million Series A investment round in August 2021 enabled the company to accelerate its mission of empowering businesses to access global commerce, which was followed by the launch of its Visa card for Hong Kong-based clients in November 2021.
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.
