LONDON, England, July 18, 2022 (Newswire.com) –
London-based payments and FX fintech Freemarket has been appointed by Alternative Airlines, a fast-growing UK-based flight search and booking site, to offer foreign exchange services in multiple currencies.
The appointment means that Alternative Airlines will now be able to expand its footprint and trade in the currencies of countries in the Middle East, including Saudi Arabia, the UAE, Bahrain and Kuwait.
Freemarket was founded in 2016 and works mainly with financial institutions, including neo- and digital banks and fintechs, insurance providers, regulated industries, payment service providers and merchants.
The company’s software and aggregated Tier 1 banking network access enable real-time movement of money, so incoming transfers and receipts are transacted quickly and exchange rates are optimized to benefit customers as they receive rates close to foreign exchange market rates. The company does this by creating a liquid internal market that matches buyers and sellers of currency through the netting of incoming payments.
Recognized as one of the fastest growing fintech companies in Europe, Freemarket allows businesses to receive and pay funds in over 40 different currencies in 100 countries. The company currently processes over £350 million in transactions monthly.
Sam Argyle, CEO of Alternative Airlines, said:
“We currently offer 600+ airlines in 160+ currencies worldwide and are preparing for significant further growth. We wanted a partner who could facilitate our ambitions.
“We awarded our contract to Freemarket following a rigorous competitive bidding process. We were impressed by the depth and breadth of currency and geographic coverage, their customer retention rates and ambitions to grow and add additional currencies to their service offering.”
Alex Hunn, CEO of Freemarket, said:
“Alternative Airlines is one of the fastest growing travel companies based in the UK and we are delighted that they have chosen us to help underpin their continued expansion into new countries. In short, our service facilitates cross-border business transactions.
“Using our platform, they no longer need to nurture individual banking relationships in each country they trade with, as we already have solid relationships with tier 1 banks around the world.”
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About Freemarket
Freemarket partners with businesses globally to accelerate their growth by giving them access to cross-border payments and currency exchange in over 40 currencies and across 100 countries optimized for their needs. By blending its proprietary technology, insights, experience and industry connections with the best banking technology and infrastructure available, the company securely automates the entire payments lifecycle from collection and receipt of funds to delivery.
About alternative airlines
Alternative Airlines is a flight search and booking website that provides a fast, easy and personal way to book flights online – supported by an expert customer service team. The site offers 600+ global airlines, including all major airlines as well as smaller airlines that fly to more remote regions of the world. Committed to providing customers with greater payment flexibility and ease of use, Alternative Airlines’ global audience can choose from 40+ international payment methods, including Buy Now, Pay Later, eWallets and Cryptocurrency, across 160 currencies.
For more information:
07881 772960
Source: Freemarket
