Xace bolsters payment network with SWIFT and ABA addition
Xace has announced an expansion of its global payments service boosting network as well as incorporating new multi-currency IBANs into its product line.
The gaming payment provider’s network now includes the SWIFT international network and the US-facing ABA, as it seeks to strengthen its ability to process cross-border transactions for its igaming clients.
As a result, the firm has bolstered its offering to enable its customers to manage and conduct international multi-currency payments via a single IBAN account as well as cross-border transactions in the SEPA area, allowing quick transfers via the UK’s Faster Payments system.
Furthermore, the platform has also moved to boost its payments offering by adding six new currencies – USD, CHF, CZK, HUF, NOK and SEK – in addition to the existing GBP and EUR transactions it currently provides.
David Hodkinson, Xace CEO, said: “The addition of these currencies enables us to expand our footprint into Europe and further afield, giving our gaming clients the freedom to move their money easily cross-border.
“What’s more, being able to process payments via SWIFT gives our customers the ability to connect to the most important international payment network. This will give options to a vast swathe of our gaming customer base who have been cast-adrift by regular banking institutions. “
The addition of the new currencies and integration of the two networks marks another step in Xace’s expansion plans, with the company recently hiring Chief Baking Officer Andria Evripidou and Non-Executive Director Julian Buhagiar to assist with oversight of this strategy.
Launching in 2020, Xace has since outlined an ambition to become the leading banking solutions provider for the igaming and esports sectors.
The business secured a licence from the UK Financial Conduct Authority (FCA) shortly after launch, enabling it to offer customised banking services to its targeted industries including IBAN and payment processing alternatives.