Today, AVASK Group announced a partnership with OFX.
OFX will offer Global Currency Accounts, currency risk management solutions and bank-beating rates on global money transfers to AVASK’s portfolio of e-commerce clients. This will help their local and international sellers conduct cross-currency business with ease, speed, and peace of mind.
Accessible through a co-branded registration flow, OFX’s Global Currency Account will empower AVASK referred sellers to receive payment gateway and marketplace payments in seven currencies (USD, EUR, GBP, CAD, HKD, SGD, and AUD). These funds can then be held, used for same-currency payments, or used to conduct global payments in 50+ currencies at game changing rates.
The ability for online sellers to open local currency accounts with ease in major e-commerce markets provides real competitive advantage. Funds received locally can be used to conduct same-currency business, skipping the need for currency conversion entirely. And where currency exchange is required, online sellers can choose the time and rate that suits them rather than having revenue transferred automatically through the platforms where they sell.
Alfred Nader, President of North America for OFX said,
“Empowering online sellers to successfully expand across borders is something we care very passionately about. That’s why we’re extremely excited to be partnering with AVASK, a premier firm of e-commerce accountants and tax experts that share that passion. In offering our Global Currency Account as a solution to AVASK clients, we can enable them to move money globally at game changing rates, helping them scale with ease.”