UK-based cross-border payments platform ArcaPay has entered the Latvian market to provide SMEs with trading partners outside the eurozone an alternative to commercial banks.

ArcaPay specialises in cross-border payment, foreign exchange and currency risk management solutions. Its services are built for importing and exporting businesses that handle foreign currencies in their business, e.g. when paying suppliers abroad.

Founded in London in 2011, ArcaPay says that it serves clients in over 20 countries and offers them payments in over 30 currencies to more than 100 destination countries.

Latvia is the third country the company has expanded into, with the second being Lithuania in 2021.

ArcaPay also launched a free sanctions screening tool earlier this year to enable businesses to check whether their existing or potential partners are subject to international financial sanctions.

“Our clients in other countries appreciate the value we bring to the table, and we hope to deliver the same to our clients in Latvia: fast payments, competitive exchange rates, no fees or commitments, and excellent customer service,”

said Marius Bausys, Founder of ArcaPay.

Featured image credit: Marius Bausys, Founder of ArcaPay