GlobeTopper, a B2B gift card concierge service, has teamed up with payment processor Knox Wire to offer instant cross-border payments.
According to a press release issued on Saturday (Nov. 26), the deal, brokered by Zed Network, would allow GlobeTopper to make same-day reimbursements in more than 190 countries. GlobeTopper will also use Knox Wire’s payment system and foreign currency services to expand the number of suppliers and commodities accessible.
Knox Wire CEO Stephen McCullah commented, “The cooperation between Knox Wire and GlobeTopper is an exciting opportunity for both organizations to provide superior financial services worldwide in a dynamic digital payments industry.”
We spoke last week with Aron Alexander, CEO and founder of U.K.-based digital rewards platform operator WeGift, about the rise of gift cards as a quick compensation option for customers.
His company, which operates in over 30 countries, has attracted a sizable number of clients, with over 1,500 prominent brands in its portfolio, including Airbnb, Nike, Instacart, Mint Mobile, and Vodafone.
In terms of multicurrency management, the company’s technology allows customers to manage customer funds and make secure payouts to end customers in 20 currencies, removing any exposure to foreign exchange (FX) risks.
WeGift’s future focus will be on internationalization and lowering cross-border obstacles, as well as creating additional asset categories to enable things like seamless value transfer across different wallets, according to Alexander.
Merchant acceptance, he noted, would be critical, as the firm has seen an increase in demand from merchants who want to work with WeGift to accept and issue assets, whether that’s through a gift card, NFT, a subscription, or a product-level token.
“The next step for us is to expand our merchant network and give additional tools to merchant partners so they can take advantage of digital currencies,” Alexander explained.
