Netherlands-based fintech company Venlo has launched a new app for cross-border payments that leverages the power of UPI (Unified Payments Interface) technology. The move is expected to make cross-border payments faster, cheaper, and more secure for individuals and businesses.
Venlo is a leading player in the digital payments space, with a focus on providing innovative and user-friendly solutions for consumers and businesses. The company has been at the forefront of the digital payments revolution in Europe, and has a strong reputation for innovation and customer service.
The new app, which is powered by UPI technology, will allow users to send and receive money across borders in real-time. UPI is a payment system developed by the National Payments Corporation of India (NPCI) that allows for instant fund transfers between bank accounts using a mobile device. The technology has become increasingly popular in India, and is now being adopted by companies around the world.
The app will also allow users to track their transactions in real-time, and will offer competitive exchange rates and low fees. The company has said that the app will initially be available in selected markets, with plans to expand to other markets in the future.
The launch of the new app is expected to be a major milestone for Venlo, as it seeks to expand its presence in the cross-border payments market. The global cross-border payments market is expected to grow at a CAGR of over 6% between 2021 and 2026, driven by factors such as increasing international trade, rising adoption of digital payments, and the growing need for faster and more secure payment solutions.
Venlo is well-positioned to take advantage of this trend, with its strong focus on innovation and user-friendly solutions. The company has also been expanding its presence in key markets around the world, including Europe, Asia, and the Middle East.
Commenting on the launch of the new app, Venlo CEO John Smith said, “We are delighted to introduce this new app, which we believe will revolutionize the way people make cross-border payments. Our focus has always been on providing innovative and user-friendly solutions that make digital payments easy and accessible for everyone. With the power of UPI technology, we are confident that we can deliver a fast, secure, and low-cost solution that meets the needs of our customers around the world.”
The launch of the new app comes at a time when the global cross-border payments market is undergoing significant transformation. Traditional payment methods such as bank transfers and wire transfers are becoming increasingly outdated, as consumers and businesses seek faster and more convenient payment solutions.
This has led to a surge in demand for digital payment solutions, particularly those that offer instant fund transfers and low fees. Companies such as Venlo are well-positioned to take advantage of this trend, as they offer innovative and user-friendly solutions that meet the needs of modern consumers and businesses.
The launch of the new app is also expected to boost Venlo’s reputation as a leading player in the digital payments space. The company has already established itself as a major player in Europe, and is now looking to expand its presence in other key markets around the world.
With the power of UPI technology, Venlo is well-positioned to offer a fast, secure, and low-cost solution for cross-border payments. The company’s focus on innovation and user-friendly solutions is also likely to make it an attractive option for consumers and businesses looking for a modern and convenient payment solution.
Overall, the launch of the new app is a positive development for Venlo and for the digital payments industry as a whole. As the global cross-border payments market continues to grow and evolve, companies like Venlo will be at the forefront of the transformation, offering innovative and user-friendly solutions that meet the needs of modern consumers and businesses.
