Form3, the London-based payment technology provider, and Goldman Sachs Transaction Banking (TxB) have introduced a solution that aims to deliver foreign exchange (FX) and payments capabilities to Form3’s banking clients, the companies announced Tuesday (April 12).
The platform will provide clients access to FX payments in 124 currencies across 163 countries. It will leverage TxB’s international payments and FX capabilities for a value-added service for Form3’s institution customers.
Operated by TxB’s application programming interface, the feature will provide Form3 customers competitive, real-time FX rates and with payment implementation and tracking.
When integrated into Form3’s network, users get more choices and flexibility to their payments, the company said. The partnership will assist Form3 customers to boost their international offerings with additional FX and payments functions.
“By working with Goldman Sachs Transaction Banking, Form3 was quickly able to add FX payment functionality within our ecosystem, enabling our clients’ global growth and expansion as well as ours,” said Form3 CEO Michael Mueller in a statement.
Last September, Form3 generated $160 million in a Series C funding round. The financing was led by Goldman Sachs, with participation from existing investors Lloyds Banking Group, Nationwide Building Society, Barclays, Mastercard, 83North and Draper Esprit.
See also: UK FinTech Form3 Nets $160M In Series C Round
At the time, Form3 said it was seeking to broaden its base in the U.S. The company said it was integral in a recent rollout of Mastercard’s PayPort+.
The next-generation real-time payments gateway is powered by Vocalink and Form3. It offers easy entry into the U.K.’s real-time payments infrastructure for financial institutions and payment service providers.
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