BitPass, Inc., a leading platform for monetizing digital content and services, announced an agreement with The Royal Bank of Scotland plc (RBS) to enable automated foreign exchange (FX) management online. BitPass will use the RBS FXmicropay service to aggregate, execute and settle transactions in more than 30 currencies, allowing international online content brands and portals that leverage the BitPass platform to conduct cross-border content sales at a high volume, while RBS manages the FX risk.
BitPass is experiencing rapid growth internationally. The BitPass Network consists of an increasingly diverse community of more than 2,500 merchants in over 30 countries. Buyers from more than 100 countries can use BitPass to purchase and access their favorite content.
"RBS Financial Markets is pleased to have signed a business relationship with BitPass. As BitPass is a leading provider of online digital content payments services, we see a strong synergy with the RBS Financial Markets eCommerce strategy," commented Tom Roche, Global Head of eCommerce, RBS Financial Markets.
"This agreement will enable BitPass to offer multi-currency pricing, while all inherent FX risk for cross-border transactions is proactively, intelligently and automatically managed by the FXmicropay service."
Matthew C. Graves, BitPassâ Chief Operating Officer, said: "To meet the growing demand for international digital content sales, BitPass is pleased to announce an agreement with RBS, one of the worldâs leading FX solutions providers."
Teaming-up with RBS enables BitPass to offer impulse purchasing and promotional capabilities to multinational merchants and portals."