KoronaPay Enhances Its UK Remittance Services

by 23 July, 2021

Clear Junction has recently started working with KoronaPay to provide collection accounts that enable them to receive funds from individuals paying in sterling. The partnership facilitates KoronaPay’s remittance services in the UK with greater coverage planned for the future.

We are delighted to announce that Clear Junction has recently onboarded KoronaPay as a client to help them expand their coverage across the UK. KoronaPay is a money transfer service that utilises the latest technology and highest service standards to make the transfer of funds simple, quick, effective and affordable.

THE EFFECTIVENESS OF THE KORONAPAY APP

KoronaPay boasts its own application, through which its customers can send money, edit recipients, track the status of transfers and select the method of receiving the transfer. The team there has worked tirelessly to improve its customer service offering and they currently operate within 50 different countries around the world. In what should serve as testament to the success and effectiveness of their application, approximately 9 million people send money through the KoronaPay app.

When the team at KoronaPay approached Clear Junction, they wanted to establish a means of providing their remittance and money transfer services in British pounds, along with other currencies that are supported by them. Our team worked with them to understand their exact requirements, before providing them with a GBP-denominated correspondent account through which they are able to collect funds from individuals.

Once the funds have been collected, KoronaPay is able to instantly release the amount to the recipient from an account in another bank. This helps them transfer monies in quick and cost-effective ways while their customers can use wire transfers as a reliable and convenient payment option when sending money internationally. There are plans afoot to expand Clear Junction’s solutions to enable KoronaPay to support euro payments in countries within the European Union in the near future.

FLEXIBLE, ADVANCED AND CONVENIENT USER EXPERIENCE

“For KoronaPay Europe, the payments in sterling is one of our major directions of growth and we are happy to have Clear Junction as our partners there,” says Gleb Kozlov, CEO of KoronaPay Europe. “Having access to Faster Payments, Clear Junction’s processing infrastructure and the expertise of their team enables us to offer our customers a wider choice of payment options, which in turn means a more flexible, advanced and convenient user experience for them.”

“Clear Junction is delighted to partner with global payment service providers to help them expand their remittance and money transfer services to individuals across the UK,” says Dima Kats, Chief Executive of Clear Junction. “We are selective about the types of financial institutions we work with, but KoronaPay is clearly a highly respected business that provides much-needed services to people around the world. We look forward to assisting the team in expanding their coverage across the EU and enjoying a long and fruitful partnership.”

To find out more about how Clear Junction can help money transfer and remittance businesses access solutions that enhance their customer offering, please get in touch with our team via the contact form.