7 days ago
Paycorp invests in Currency Stream
Currency Stream, the global FX and payments provider, today announced a major investment from Paycorp International to grow its business in Europe and fuel its expansion across the Americas, Africa, and Asia.
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Currency Stream delivers market leading dynamic currency conversion (DCC) and multi-currency pricing (MCP) technology, pricing algorithms, and risk management expertise. Paycorp is bringing significant investment capital, global reach, and payments expertise to the business.
This relationship builds on a successful long-term engagement, with Paycorp having leveraged Currency Stream's DCC solutions across Central and Eastern Europe and Southern Africa since 2017.
Steven Kark, CEO and Founder of Paycorp International, will join the Currency Stream International board, bringing a wealth of payments industry experience to the leadership team.
'This was a natural next step,' said Noel Goddard, Founder and CEO of Currency Stream. 'We've worked closely with Paycorp for many years and share a common focus on performance, innovation and trust. This investment further cements that partnership, unlocks exciting growth opportunities in three new continents and gives us the scale to serve more partners, faster.'
Currency Stream's platform currently supports over 140 currencies and is used by acquirers, gateways, processors and payment orchestration platforms globally. The new venture will extend these services to partners across retail, travel and e-commerce markets in high-growth regions.
Steven Kark, CEO of Paycorp International, added: 'Currency Stream has always delivered for us - with reliability, transparency and strong tech. When they shared their global expansion plans, it made perfect sense for Paycorp to partner with them to expand into Africa, Asia and the US. FX and multi-currency pricing are essential to cross-border commerce, and Currency Stream's platform is best-in-class and sits very well within our portfolio of market leading value-add businesses in the payments space.'
