Moneycorp , a payments services provider, has launched in France as part of its expanding European business, aiming to offer secure payment solutions. Headquartered in Paris and headed up by Cyril Léger, Moneycorp France will provide integrated payment solutions to corporate clients, including financial institutions, banks, and businesses.

Launching with a team of six, Moneycorp France has ambitions to quadruple its headcount in 2023, as mentioned in the official press release. Moneycorp France’s proposition includes a full suite of payment and foreign exchange solutions specifically designed to support the needs of small and medium sized enterprises (SMEs). The arrival of a French address also means that the global foreign exchange and payments operator can provide French companies with aN alternative to their legacy banks and providers.

France is Moneycorp’s sixth office in Europe, the Middle East, and Africa region, which also includes the UK, Ireland, Spain, Romania, and Dubai. Moneycorp is a payments services provider for banks, businesses, and individuals. Moneycorp focuses on creating a balance between shaping the future of the payment industry and building meaningful relationships.

Moneycorp’s recent developments Over the last eight years, Moneycorp has transformed its business from a largely domestic, consumer focused, analogue provider of foreign exchange to an international, digitally enabled, business-to-business (B2B) currency solutions provider. Moneycorp’s income is predominately derived from payments and banking services, with 84% B2B and 65% from international revenue streams, the company disclosed. Because of this, in April 2022, Moneycorp has completed the exist from retail sites after shutting down its last remaining branches at Gatwick Airport.

Therefore, Moneycorp’s red foreign currency exchange counters, a staple of UK airports and high streets, are now a thing of the past. More recently, in August 2022, Moneycorp announced an FX Liquidity Management Solution that aims to solve DAX liquidity issues. In this context, Moneycorp aims to support the growth of Digital Asset Exchanges.

Through Moneycorp’s APIs, these exchanges can access the payment fintech’s FX liquidity powered by 16 different providers. The service is available 24/5, and it allows them to execute global payments with better efficiency. Looking into France’s fintech ambitions With EUR 2.

27 billion raised in 2021, the French fintech sector is booming. Its players are now key partners in the traditional financial and banking ecosystem. By and large, fintechs operate on an opportunistic basis and can, more so than traditional players, respond to crisis situations and rapid changes in the financial system.

According to Sopra Banking Sofware, the health crisis had a neutral or positive impact on 79% of French fintechs. What’s more, by March 2022, 72% of these companies said their business was already unaffected by the health crisis. This adaptability is promising, as it will allow fintechs to integrate the future regulations that will govern their activity.

It will also allow them to be responsive to the development of new technologies and changes in consumer behaviour. .