Currency exchange makes cross-border business-easier

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Making cross-border business easier

Earlier this week, Victoria’s Peloton Technologies announced the launch of Self-Serve Currency Exchange. Peloton is a Canadian fintech that has vowed to change the Canadian payments industry for the better by simplifying the challenging workflows faced by small- and medium-sized businesses. Peloton serves independent sales organizations, merchants, and C-suite executives with a comprehensive payments platform intended to bring everything businesses need into one place.

Peloton explained that Self-Serve Currency Exchange will allow businesses to independently manage currency exchange from their own devices, streamlining cross-border commerce.

“Self-Serve Currency Exchange means a business owner can keep track of FX rates in real time, complete cross-border transactions seamlessly, and quicken the pace of their business transactions,” said Craig Attiwill, founder and CEO of Peloton Technologies. “For more than a decade, Peloton has been focused on breaking down every barrier a business owner faces when it comes to their payment experience so they can better serve their customers. This is another great example.”

Fabian Wolk, CEO of climate tech manufacturer Rockland Scientific, testified to the service’s usefulness.

“We are exporting to 30 countries and have been looking forward to this release from Peloton for some time,” said Wolk. “Self-serve currency exchange will certainly enable a smoother flow of our cross-border transactions, and Peloton’s highly competitive rates will also reduce our exchange rate costs. This is a win for small businesses with a global footprint.”

Peloton raised $2 million in its latest seed round last November.

📰 More Victoria innovation news

💪 Forever young: VikeLabs, a group of student software developers hosted its first hackathon with over 40 coders taking part and 14 completed projects—in just eight hours.

🤝 Better together: Malahat Battery Technologies Corp. has entered into a partnership with Taiwan’s Enwind Power, a battery research and development company. The partnership is part of a project to bring Canada’s first Indigenous-led gigafactory to Vancouver Island.

🏦 Money in the bank: Earlier this month, Telus committed $17 billion over five years to network infrastructure and operations in B.C. The investment is part of a $73 billion cross-Canada commitment until 2028.

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