The Currency Cloud, cross border payment as a service provider, has enabled developers to integrate international payment processing with an API: XBPConnect. Prior to the Currency Cloud, payment/invoice software required users to leave the platform and engage a third party to process an international invoice. The Currency Cloud allows cross border and multi-currency transactions from a single platform. The API allows developers to integrate the functionality into existing apps and platforms. The Currency Cloud CEO, Mike Laven, explained:
"Making an international payment should be as easy as making a domestic one. With XBPConnect, developers can create apps and services for low-cost, simple currency conversion on a range on enterprise software: with just a couple of clicks, users are done - no phone calls, no disengagement with the core accounting process."
Income Systems used XBPConnect to integrate the Currency Cloud functionality into Salesforce.com and Sage. Incorporating international payments into existing workflows allowed Income Systems to save effort, time, and money. Paul Harvie, Income Systems CEO, commented:
"In servicing Salesforce customers, we are constantly coming across businesses that are burdened with the complexities and high charges associated with international payments. The Currency Cloud's XBPConnect API helps us to address this pain."
XBPConnect uses REST protocol and returns calls in a JSON data format. XBPConnect allows developers to integrate individual or the full suite of Currency Cloud features into existing workflows (e.g. display exchange rates, receive funds, manage beneficiaries, buy and sell currency, control settlements, manage accounts, make payments, manage risk, etc.). Those interested can visit the API site or register for a key.
Many invoicing platforms and apps flood the ever growing ecommerce market. However, international payments represents an area that few, if any, have mastered. Although the Currency Cloud remains less than a year old, its unique value proposition could rocket its status up the payments ladder.