Zenus Bank, a digital bank that allows people to open US bank accounts around the world, has acquired real-time payments company Financial Urban Exchange.
This acquisition is part of Zenus Bank’s strategy to innovate and expand its service offering in the FinTech industry. It also cements the company’s mission to offer cutting-edge financial solutions to its customers through an effective M&A strategy.
FUEX Payments offers API solutions that enable real-time payments through global payment card brands for businesses, governments and financial institutions. Its focus is on real-time payments for the Caribbean and Latin American markets.
Through the acquisition, Zenus will be able to expand its offering in the Caribbean and LatAm markets. The technology will allow businesses and individuals in the region to transact more efficiently and securely anywhere in the world.
Zenus Bank founder and chairman Mushegh Tovmasyan said, “FUEX Payments has been at the forefront of the fintech revolution in the Caribbean and LAC markets, and we are thrilled to have them join the Zenus Bank family.
“This acquisition will enhance our capabilities and enable us to deliver even more innovative solutions to our customers, further strengthening our position as a leader in the fintech industry.”
Earlier in the month, Zenus Bank became the first bank to launch a Visa Infinite Debit Card to a global audience. This development allows people in over 46 countries to easily apply for a US bank account online. They will then be issued a virtual Visa Infinite debit card and receive a physical card in under ten days.
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