Fintech Payments Company FXPress to Acquire Avila House

Fintech payment services company, FXPress Payment Services Limited announced today that it has entered into an agreement to acquire Avila House Limited, subject to regulatory approval.

Avila House is a licensed Small Electronic Money Institutional. Under the agreement announced today, FXPress customers will be able to receive and hold client funds in multi-currency accounts.

The deal between FXPress and Avila House will be settled in part cash and part shares. The transaction is subject to approval by the Financial Conduct Authority (FCA), which is expected in the coming weeks.

FXPress to Provide Individual IBAN Numbers

The acquisition will allow the fintech Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company the ability to expand its offering by adding new products and services. In particular, it will be able to provide access to accounts where clients are able to both deposit and retain funds for future use. This will be achieved by providing individual IBAN numbers to manage cash and optimise Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term payments.

FXPress is a foreign exchange (forex) specialist. The company’s proprietary payment services platform, which has been designed to take advantage of the Open Banking Initiative (OBI), can integrate into corporate accounting systems and bank accounts with the purpose of optimising transactions.

Currently, the payments company processes £600 million worth of foreign exchange transactions per year. According to the statement published today, the majority of these transactions are specific payments.

Commenting on the acquisition, Jason Conibear, the Chief Executive Officer of FXPress, said in the statement: “The acquisition of Avila House expands our product and service offering to provide simple, easy to access, efficient and integrated payment services to our SME clients.

“Now, our clients can have the account their business needs, in the currency they want. This is an exciting step as we build out our modular, highly scalable platform to achieve our goal of making international finance simpler, cheaper and easier to access for all businesses.”