In a significant move for India's micro, small and medium sized enterprises (MSMEs), Mumbai-based fintech BriskPe has joined forces with Currencycloud, the multi-currency business experts. The partnership aims to enrich the payment options of BriskPe's customers and unlock international business prospects for its India-based clientele.
This collaboration will offer these businesses an expansive and proficient list of cross-border payment solutions. Moreover, these enterprises will have access to 35 plus currencies facilitated by competitive foreign exchange rates. The landmark partnership strives to eliminate hurdles in the international market, especially for MSMEs, by optimising and expanding their payment windows.
Currencycloud's powerful APIs will be used by BriskPe to capitalise on local account-based collections in prominent markets like the UK, EU, Canada, and the USA. This integration will drastically streamline the collection, conversion, and payment process, making it an easier chore. The provision of virtual accounts, under the business's name, will make the global collection process much simpler, enabling enhanced payment method diversities.
This collaboration is a major leap towards a swift, faultless reconciliation process along with automated systems. MSMEs will now be able to receive their international earnings directly into their India-based bank accounts within a single business day. This rapid funds availability, along with focussed growth objectives, will significantly enhance the revenue management frameworks of these enterprises.
Making a statement on this collaboration, Sanjay Tripathy, Co-founder and CEO BriskPe, said, "Our collaboration with Currencycloud aligns perfectly with our mission to eliminate the complexities associated with international collections for MSMEs by simplifying international payments. What's more, Currencycloud's enhanced scalability allows us to deliver value to our clients without compromising on service quality."
Expressing his delight at working with BriskPe, Rohit Narang, Managing Director of APAC at Currencycloud, articulated, "We are delighted to work with BriskPe and help facilitate its expansion in the international cross-border payment landscape. We look forward to working with them as they continue to enable India's often under-represented businesses to thrive on the global stage."