Marjory and Kantox partner to provide currency management solutions to marketplaces
Marjory has entered into a strategic partnership with Kantox, a leader in currency management solutions for businesses, to support marketplaces in the process of expanding internationally. This collaboration will allow Marjory-connected operators to accept cross-currency payments while protecting their customers against foreign exchange (FX) risk.
When marketplaces move into unfamiliar markets, they face the challenge of new and increased requirements on their financial dealings and of managing their customer’s foreign currency needs. As a result, FX risk needs to be accounted for and addressed to avoid pricing fluctuations, decreases in local currency income and a reduction in margins.
The goal of the collaboration is to enable marketplaces and their customers to cope with these hazards by offering Marjory-connected marketplaces a secure multi-currency payment system that is easy to integrate and customise.
Under the partnership, Kantox’s solutions can be integrated into marketplaces that are connected to the Marjory framework. Those that opt-in will be able to access Kantox’s award-winning currency hedging technology and multi-currency payments product. This will allow marketplace CFOs and Treasurers to automate their FX risk management as well as their international payments in a straightforward, secure and affordable manner.
“With Kantox, Marjory is allowing marketplace operators to expand internationally by protecting their own and their clients’ income and commissions,” explains Kamel Tansaout, Founder & CEO of Marjory.
“With Marjory, Kantox makes its integration easier for B2B marketplaces, and allows them to boost their international growth by allowing sellers to price and guarantee their income in their local currency as well as allowing sellers to buy products in their local currency” says Philippe Gelis, CEO & Co-founder of Kantox.