WORLDFIRST can help online sellers to repatriate funds at better exchange rates than the major marketplaces.
WorldFirst acquires Wyre’s retail cross-border payment service
WorldFirst have acquired Wyre’s retail customers for an undisclosed amount.
The transaction has already completed and the migration process has started. The transaction is part of Wyre’s larger focus to expand our API-first services and WorldFirst was a clear choice for them to recommend to retail customers due to WorldFirst’s global infrastructure and payment coverage.
Wyre started servicing individual retail businesses in 2016 and have grown the business to over $100MM in yearly processing volume within the first few years of launching the service. They recently came to a crossroads as a company and had to make a decision on where we can invest time and the retail dashboard started to fall outside the scope of their business model.
The transaction is expected to provide WorldFirst with thousands of new individual retail customers who are sending money and paying invoices throughout China, Mexico, Hong Kong, Brazil and the United Kingdom.
Since being founded in 2004, WorldFirst has grown to become one of the largest payments companies in the world. WorldFirst processes over $15 billion a year, offering great rates and award-winning service, with full licensing and a global presence through 8 regional offices.
“It’s really important to us that you can continue your business activities as usual and so, after months of investigations, we have identified WorldFirst as the partner who we – and you – can trust.
WorldFirst is one of the largest payments companies in the world, processing over $15 billion a year. They’ve built a great business by continually offering great rates backed-up with award-winning service. We know you’ll be in really safe hands with the team at WorldFirst!”
– Wyre statement to retail customers