UPT today announced its collaboration with Visa, a world leader in digital payments, to implement Currencycloud, a Visa Direct offering. Using Currencycloud’s capabilities, UPT will enable corporate customers to access virtual EUR and GBP IBANs in their own company name and manage international collections through a single platform – similar to the European Account service already offered to individual users through UPT’s mobile application UPTION.
UPT, one of Aktif Bank’s pioneering subsidiaries in the field of financial technologies and Türkiye’s first national global money transfer and payment platform, will initially offer the Virtual IBAN service for EUR and GBP, while USD is planned to be added at a later stage.
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Beyond Virtual IBANs, Currencycloud will also enable UPT to enhance its cross-border payments offering through real-time foreign exchange capabilities, simplifying international transactions.
UPT CEO Murat Kastan made the following statement on the subject: “We continue to develop solutions that will make our corporate customers’ international payment collection processes easier and more efficient. Thanks to this collaboration with Currencycloud, UPTION Corporate users will be able to obtain a Virtual IBAN in the name of their own companies and manage their international collection and payment processes through a single platform. While offering a fast, uninterrupted and reliable transaction experience with competitive foreign exchange rates, we aim to contribute to businesses conducting their global trade activities more efficiently.”
Jak Telyaz, VP, Business Development, Visa Europe, said: “Businesses today need simple, reliable ways to manage money across borders. Through Currencycloud, Visa is proud to support UPT in bringing multi-currency account capabilities to its corporate customers, helping make international collections and payments faster, easier and more efficient.”
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