Centtrip lets rip with instant payments service
London-based Centtrip has launched a free service offering “unlimited” local and international payments in 15 deposit currencies to its clients.
The firm provides companies with a master account, and sub-accounts for each regional division and cost centre.
Users can assign administrators and set up permissions to tailor Centtrip’s reporting features across each sub-account and make individual and batch payments “instantly and free of charge, managing all activity from the master account anywhere in the world”.
Brian Jamieson, co-founder and CEO of Centtrip, says the firm is tapping into the Bank of England’s desire to “open up the UK payments system to fintech firms to boost innovation and competition in the sector”.
With the service, CenttripNow, it says it removes additional charges that are incorporated in the currency exchange spread.
Yesterday (17 April), the company revealed that in line with new regulatory guidelines PSD2, the UK’s Financial Conduct Authority (FCA) has approved Centtrip as an authorised electronic money institution (AEMI).
Centtrip was established in 2014 and along with the multi-currency account, offers an app, card, and a multi-currency Mastercard.