{"id":1057,"date":"2016-10-20T00:30:14","date_gmt":"2016-10-20T00:30:14","guid":{"rendered":"http:\/\/www.rsoftsolution.com\/blog\/social-payments-app-circle-adds-two-more-european-markets.html"},"modified":"2016-10-20T00:30:14","modified_gmt":"2016-10-20T00:30:14","slug":"social-payments-app-circle-adds-two-more-european-markets","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/social-payments-app-circle-adds-two-more-european-markets.html","title":{"rendered":"Social payments app Circle adds two more European markets"},"content":{"rendered":"


\n<\/p>\n

Circle has lit up two more European markets as it works to rapidly\u00a0build out\u00a0its presence in the region. Users of the P2P payments app in Spain and Ireland can now\u00a0connect any Spanish or Irish bank account to the app\u00a0to send and receive money within their own countries and across borders (with\u00a0native Euro support in those markets).<\/p>\n

As well as no fees for transfers, Circle\u00a0touts having \u201cthe best exchange rate available to consumers\u201d \u2014\u00a0saying its<\/span>\u00a0exchange rate is \u201ctypically\u201d\u00a0around 0.2 percent to 0.3 percent above the market rate versus 3-4 percent \u201ctypically\u201d charged by banks (or the 1-2 percent typically charged by startups).<\/p>\n

The U.S. P2P payments startup only rolled into Europe in April<\/a>, when it launched for U.K. users \u2014 with sterling its second fiat currency after the dollar.<\/p>\n

It\u2019s also since taken in a $60 million funding round<\/a>, and set up a separate China operation, called Circle China, with ambitions to help Chinese users send money overseas \u2014 which is another reason to expand its reach\u00a0in Europe.<\/p>\n

\"Circle<\/a><\/p>\n

A spokesman said next on its priority launch\u00a0list are large markets such as France, Italy, Germany, adding: \u201cOthers will fast follow.\u201d<\/p>\n

Notably, though, Circle is still not disclosing user metrics, more than a year after the\u00a0U.S. beta launch of its payments app. And payments are a contested space, with many players offering services \u2014 from the likes of TransferWise\u2019s feeless cross-border transfers to Facebook<\/a>\u2018s push into social payments via its messaging app.<\/p>\n

Circle\u00a0will only say that it\u2019s \u201con pace\u201d to do a billion dollars\u2019 worth of volume transaction this year, and that user growth in the U.S. is\u00a0832 percent YTD, while\u00a0the U.K. average quarterly growth rate is at 119 percent.<\/p>\n

Prior to launching its Circle Pay app to try\u00a0to grab a slice of\u00a0the mobile social payments market, the startup had a bitcoin wallet. It now prefers to\u00a0talk in terms of\u00a0the power of blockchain technology, using bitcoin as a route to settle any cross-border payments into currencies where it\u00a0does not yet have a local\u00a0banking partner.<\/p>\n

<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunch\/social\/~3\/Psxp1PKwK9s\/<\/p>","protected":false},"excerpt":{"rendered":"

Circle has lit up two more European markets as it works to rapidly\u00a0build out\u00a0its presence in the region. Users of the P2P payments app in Spain and Ireland can now\u00a0connect <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[10,7,14,15,6,12,11],"class_list":["post-1057","post","type-post","status-publish","format-standard","hentry","category-latest-update","tag-computer-news","tag-downloads","tag-microsoft-download-news","tag-networking-updates","tag-technology-update","tag-wordpress-plugin-download","tag-wordpress-theme-download"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t