Novalnet Partners with Banking Circle

Banking Circle, a Luxembourg-based financial infrastructure provider, has announced that it is supporting Novalnet AG, a Munich-based full-service payment provider, with faster and lower cost foreign exchange (FX) and settlement solutions for its 12,000+ customers worldwide. 

Novalnet was created to tackle the countless payment pain points encountered by online businesses, from payment fraud and resulting chargeback, the convoluted customer journey and processing errors to a drop in conversion rates, high transaction fees and a lack of technical support, to name a few.

Through Banking Circle, Novalnet can offer like-for-like settlement in 24 currencies, avoiding double conversions that reduce the payment value through multiple conversions and FX mark ups. Leveraging Banking Circle Real-time FX, Novalnet is also increasing its FX margins and reducing the inevitable overheads of managing multiple international banking partners.

Anders la Cour, co-founder and Chief Executive Officer (CEO) of Banking Circle, commented: “As a financial infrastructure provider, Banking Circle gives Payment providers such as Novalnet the ability to offer their customers cost-effective payment and settlement solutions with flexibility and security built in. Together, Banking Circle and Novalnet are reducing the cost of cross border settlement and FX whilst simultaneously increasing transparency, efficiency and security”.

Through its single integration, providing a comprehensive solution focussed purely on customer need, Novalnet is attempting to resolve these challenges. It provides flexibility to clients by offering customised services fulfilling all payment requirements. These include payment processing of national and international payment methods, real-time fraud prevention and risk management, automated invoicing, subscription and member management, integrated marketplace solutions, claims management and simple reporting. Payment modules for more than 100 shop systems / CMS have been designed to be easy to use and to create a secure and seamless payment journey resulting in higher conversion rates for Novalnet customers.

Gabriel Dixon, Founder and CEO of Novalnet, added: “Novalnet sets a high standard in the payment world by constantly innovating to deliver new features and functionality. Our payment experts build and develop tools and techniques that improve the performance and profitability of payment products worldwide, ensuring we provide our customers with a comprehensive, market-leading solution, focussed on meeting their needs".