MassPay Launches Single FX Conversion for Global Payouts in Local Currency
MassPay, a global financial orchestration platform and Visa Direct partner, has introduced an expanded multi-currency collection feature that allows businesses to pay out funds directly into the local currency of recipients across 180 countries with just one foreign exchange (FX) conversion. Traditionally, cross-border payments required routing through intermediary currencies like USD, which added costs due to multiple conversions and spreads. By eliminating this step, MassPay reduces FX expenses for both businesses and their payees while ensuring more value reaches the end recipient. The new capability is built on MassPay's existing infrastructure that supports real-time payouts with a high transaction success rate of over 99.3%. The feature simplifies treasury operations by allowing companies to fund in currencies they already hold, without needing additional conversion steps. It is now available for selected clients and can be integrated seamlessly into current systems. MassPay's solution aims to benefit both businesses—by reducing complexity—and payees—who receive more money due to fewer conversions.
Topics: cross-border_payments currency_conversion global_payment_solutions