TransferMate, the world’s leading provider of payments infrastructure as a service, and WEX, a global financial technology service provider, today launched new capabilities that simplify how businesses of all sizes execute complex international payments. Through the partnership, TransferMate has integrated its leading payments technology directly into the WEX system. WEX clients will be able to execute seamless international transfers with ease, and experience new levels of simplicity, security and speed through TransferMate’s extensive global payments network.
With the custom integration, WEX – known globally as a leader in corporate payments – will be able to expand its offering to give clients domestic, regional and international transfer capabilities via TransferMate. The partnership shows a commitment by both organizations to improve the payment options for global companies, enabling international transfers at lower costs, higher speeds and with greater reconcilement benefits.
Sinead Fitzmaurice, CEO of TransferMate, a subsidiary of Clune Technology Group, said: “We are excited to join forces with WEX to provide the most efficient payment process possible for global businesses. At TransferMate, we are committed to making international payments easier than ever before and a key way to accomplish that is through strategic partnerships with likeminded, cutting-edge companies in the industry, like WEX.”
The TransferMate and WEX partnership streamlines payment management and reconciliation for accounts teams, allowing for full transparency and one login to make fast and secure payments. With the new capabilities of the WEX payments platform, businesses can take control of their business spend, with tracking, insights, security and automated reconciliation.
Jay Dearborn, President of Corporate Payments at WEX, said: “Through the WEX and TransferMate partnership, businesses will be able to make domestic, inter regional and cross-border payments by paying locally in their own currency, with funds settled locally in the beneficiary’s currency. As WEX continues to unify global AP to AR payments processes, we are thrilled to provide new flexibility and payment rail choice to our customers–helping them save both time and money as a result of simplifying the traditional transfer process.”