European mobile payments pioneer, Settle Group, provider of the mobile payment service Settle in 22 EU markets, has partnered with Currencycloud, a leading provider of B2B embedded cross-border solutions, to add foreign exchange and cross-border payments for its invoice financing and factoring customers across Europe.

The partnership also enables Settle to expand its payment network, by enabling local payouts in markets where Settle is not locally connected through its own bank partnerships. This connectivity was instrumental in Settle’s recent launch in Bulgaria, the 22nd market where Settle Group has launched its award-winning mobile payment service.

Settle has traditionally built its own technology and products and this is the first time it has worked with a third party to deliver a solution for its customers. The integration took less than two weeks thanks to the stellar technology and competence on both sides. The end result is full flexibility for Settle’s clients, both consumers and businesses across 22 EU markets, so they can pay and get paid, manage their money and grow their business in any currency, with local payouts.

Settle Group CEO, Daniel Doderlein, says of the partnership: “Our partnership with Currencycloud is the first of its kind for us. We see that Currencycloud, as a long-standing fintech, such as ourselves, provides rock-solid technology and capabilities that help accelerate our business and our abilities to pursue our vision of creating a service that seamlessly integrates with a company’s pre-existing billing flow. After standing shoulder to shoulder at financial services conferences for a decade, it’s a rewarding experience to work with fintech enablers like Currencycloud.”

Steve Lemon, Vice President Strategic Partnerships & Co-founder of Currencycloud, commented: “Our purpose at Currencycloud is to reimagine the way money flows to create a better tomorrow for all. Our partnership with Settle does exactly that, for both businesses and consumers and we’re looking forward to growing the partnership moving forward.”