Payment service provider (PSP) Mobilum Technologies is collaborating with fiat-to-crypto and payment infrastructure company Wyre, to help accelerate Mobilum’s U.S. expansion, according to a press release on Wednesday (Dec. 1).
The partnership will integrate Wyre’s API and give Mobilum the ability to process automated clearing house (ACH) transactions for U.S. customers by using Wyre’s ACH payment rails. The full integration with Wyre’s banking rails is anticipated to be completed in the first quarter of next year.
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“This strategic partnership will allow Mobilum to finally enter the U.S. market, giving the company access to one of the largest crypto markets in the world,” said Mobilum co-founder and president Wojciech Kaszycki.
Using blockchain technology, Wyre’s API integrates seamlessly to make it easy for developers to “bring crypto to the masses.” Founded in 2013 in Silicon Valley, Wyre has processed over $10 billion in payments and onboarded more than 15 million end-users to their partners in more than 100 countries.
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Founded in 2017 and headquartered in Vancouver, Mobilum’s on-ramp payment processing platform has been enhanced with the integration of 200-plus acquirers as well as a banking rails ecosystem. The result is improved fraud detection capabilities, increased transaction approvals and global access to banks and merchant accounts.
Kaszycki added that this latest upgrade to its platform will assist the company in tackling the major quandaries many crypto firms are confronting. The upgrade will also enable Mobilum to “significantly increase approval rates on transactions, prevent fraud and reduce chargebacks.”
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Mobilum aims to make traditional finance accessible using digital payment infrastructure and digital asset management technologies and give people worldwide the ability to convert fiat-to-crypto and crypto-to-fiat with Mobilum’s on-ramp and off-ramp solutions.
Wyre focuses on developers to provide easy-to-integrate APIs to bring crypto to the masses. Checkout, its flagship product, is the “world’s fastest fiat-to-crypto gateway.”
