KILKENNY, Ireland, June 3,
2021 /PRNewswire/ -- 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."
About TransferMate Global Payments
TransferMate — a
subsidiary of Clune Technology Group founded by Terry Clune — is the world's leading provider of
payments infrastructure as a service, enabling companies to send
and receive cross-border payments faster and easier. TransferMate,
under the leadership of Clune and CEO Sinead Fitzmaurice, has built one of the largest
portfolios of payments licences worldwide, including in 51 US
states and territories, to support trading in 162 countries.
Leading banks, fintechs and software providers partner with
TransferMate to offer an enhanced user experience for their
business customers. The company has created bespoke integrations
for banks like ING and AIB, who are also investors in the company,
and Wells Fargo and software providers such as Coupa, SAP Concur,
Tradeshift, Workday, etc. The TransferMate API solution allows
partners to digitalise the payments flow within their software,
enabling all businesses to achieving significant time and financial
savings. For more information, visit www.transfermate.com.
About WEX
Powered by the belief that complex payment
systems can be made simple, WEX (NYSE: WEX) is a leading financial
technology service provider across a wide spectrum of sectors,
including fleet, corporate payments, travel and health. WEX has
offices in more than 10 countries and employs more than 5,200
associates around the world. WEX fleet cards offer approximately 16
million vehicles exceptional payment security and control; purchase
volume in travel and corporate solutions was $20.9 billion in 2020 and was processed in over
20 currencies; our health division provides consumer-directed
healthcare technology and services, and reached an estimated 34.3
million U.S. consumers as of March 31,
2021. For more information, visit www.wexinc.com.
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SOURCE TransferMate