LONDON (ShareCast) - (ShareCast News) - Electronic banking and international payments group FairFX announced the launch of its multi-currency business current account 'Fair Everywhere' on Tuesday, marking its first step into the small-to-medium enterprise banking sector since its acquisition of CardOne earlier in the year.
The AIM-traded firm said the new business current accounts would be made available to customers in early 2018.

It said Fair Everywhere would offer SMEs current accounts in multiple currencies, that would incorporate full-service banking services combined with a low-cost international payment facility.

FairFX explained that, with businesses able to open an account "within a few hours", the Fair Everywhere product would enable business customers to send and receive funds from abroad at its "highly competitive" exchange rates.

Additionally, the account would offer a rewards programme, which would allow customers to earn up to 3.5% cashback on spending at major retailers.

"It's fantastic to reveal our planned launch of the Fair Everywhere business current account, the first new product coming from our pipeline of new digital banking services for SMEs," said FairFX CEO Ian Strafford-Taylor.

"Our aspiration with Fair Everywhere is to make international business fairer, easier and more cost-effective, and the international payments functionality is a real differentiator compared to other service providers.

"By making a small change in banking provider, businesses can make a big difference to their bottom line."

Strafford-Taylor said Fair Everywhere also saw FairFX expand its product offering, and make a "significant move" into the SME banking services space, targeting businesses that required cost-effective, efficient current accounts.

"We are looking forward to announcing the official launch of the Fair Everywhere product in early 2018."

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