Paycorp, the global payments group with deep roots in South Africa, has announced a strategic investment in Currency Stream, a UK-based fintech specialising in real-time foreign exchange and multi-currency payment solutions.
This partnership will accelerate Currency Stream’s growth in Europe and unlock new expansion opportunities across Africa, Asia, and the Americas. Paycorp will bring capital, global reach and over two decades of payments expertise to support Currency Stream’s ambitions.
The investment builds on a strong working relationship spanning more than seven years, with Paycorp having successfully deployed Currency Stream’s Dynamic Currency Conversion, DCC technology in Central and Eastern Europe and Southern Africa since 2017.
“This partnership is a natural evolution of our long-standing relationship with Currency Stream,” said Steven Kark, CEO and co-founder of Paycorp, who will join the Currency Stream International board.
“They have consistently delivered results with robust technology, transparency, and smart thinking. As they expand globally, it makes perfect sense for Paycorp to back that growth and take this offering deeper into markets like Africa, Asia and the US.”
Currency Stream’s proprietary technology enables real-time DCC and Multi-Currency Pricing, MCP in over 160 currencies. acquirers, gateways, and e-commerce platforms worldwide already trust it. The partnership will bring these capabilities to new sectors and regions, particularly high-growth retail, travel, and online commerce markets, where multi-currency solutions and FX transparency are crucial.
“This investment cements a powerful partnership built on innovation and trust,” said Noel Goddard, Founder and CEO of Currency Stream.
“Paycorp understands the complexities of cross-border payments and has the scale, experience and strategic focus to help us serve more partners faster, particularly across Africa and other emerging markets.”
Paycorp’s investment in Currency Stream is part of its broader strategy to expand its portfolio of value-added payment solutions. With operations in Southern Africa, Eastern Europe and the UK, Paycorp is already recognised as a provider of ATM and cash services, transaction processing, embedded business funding and alternative payment solutions.
Paycorp is an international payments provider with operations in Southern Africa, Eastern Europe and the United Kingdom.
Leveraging over 25 years of unparalleled expertise, Paycorp stands as a payments powerhouse, renowned for its reliability, agility, and comprehensive services, which include supporting brands and businesses in ATM and cash-related services, transaction processing, embedded business funding, and value-added services.
Currency Stream is a fintech platform that powers real-time currency conversions at ATM, POS and e-commerce systems worldwide. The proprietary algorithm, augmented by machine learning and developed over 20 years, has processed over US$10 billion in transactions in the payments space alone and operates across Germany, the Netherlands, the United Kingdom, France, Italy, Spain, Ireland, South Africa, and, more recently, the USA.
By tapping into live interbank FX markets, Currency Stream delivers real-time, transparent Dynamic Currency Conversion, DCC and Multi-Currency Pricing, MCP to cardholders, merchants, and issuers at the exact moment of payment.
