PYMNTS

SEPTEMBER 22, 2020

clearing bank ClearBank is introducing multicurrency bank accounts for businesses to move funds based on foreign exchange prices in real time. In a statement, ClearBank Chief Customer Officer Simon Jones said the solution offers a new opportunity for businesses that need to hold and move various currencies for their own customers.

Banking 110

Banking B2B Foreign Exchange Currencies 110

PYMNTS

NOVEMBER 13, 2020

With nearly $90 million in new funding landing at B2B FinTechs this week, investors showed off a diverse range of focuses, from procure-to-pay to small business payments. The company helps B2B businesses manage product information on their sales channels in support of commerce digitization. million in new funding for U.K.

B2B 91

B2B Banking Foreign Exchange Startups 91

PYMNTS

JUNE 15, 2020

GTreasury , a treasury management system provider, is working with Goldman Sachs on a new solution to offer easier, more transparent B2B payments both at home and internationally, according to a press release.

Foreign Exchange 99

Foreign Exchange Treasury Currencies B2B 99

PYMNTS

NOVEMBER 3, 2020

This new financing will help us to accelerate the development of the company both in terms of products, with the addition of local currency accounts, payment card, integration with accounting software, and geographically, as we will target new markets in South-East Asia,” Statrys Founder and CEO Bertrand Theaud said in the announcement.

Foreign Exchange 105

Foreign Exchange Currencies Finance Accounting 105

PYMNTS

FEBRUARY 5, 2020

The Visa partnership offers users secure, cross-border payments in multiple currencies while taking advantage of Airwallex’s competitive foreign exchange rates. Starting now, Australian Airwallex users can distribute virtual payment cards in multiple currencies to pay suppliers instantly. .

B2B 71

B2B Foreign Exchange Currencies Valuation 71

PYMNTS

NOVEMBER 3, 2020

In this week's roundup of payment rail innovation, PYMNTS finds B2B payments use cases serve as an important driver of adoption, with FinTechs and financial service providers embracing payment rails old and new to enable real-time B2B payments and foreign exchange. B2B Drives ACH Volume Up. and abroad.

B2B 56

B2B Foreign Exchange Currencies Accounts Payable 56

PYMNTS

SEPTEMBER 17, 2020

Cloud-based clearing bank ClearBank has begun offering multi-currency bank accounts using an API, according to a press release. Beginning in the fourth quarter this year, the bank will allow users to access over 30 multi-currency accounts. ClearBank will remain in charge of the clients' funds.

Currencies 64

Currencies Accounting Banking Foreign Exchange 64

PYMNTS

SEPTEMBER 17, 2019

Travelex , part of the United Arab Emirates-based Finablr , is rolling out a FinTech business-to-business (B2B) platform called Travelex Business, IBS Intelligence reported on Tuesday (Sept. The new platform will feature an API-led platform to offer customers cash management , cross-border payments and retail currency conversion.

B2B 60

B2B Foreign Exchange Currencies Cash Management 60

PYMNTS

SEPTEMBER 27, 2018

The unit provides small- and medium-sized businesses (SMBs) with cross-border supplier payment services , enabling those companies to pay vendors in their local currencies to mitigate against foreign exchange risk and fees. Western Union said via a spokesperson that it does not comment on M&A speculation.

Sales 79

Sales B2B Foreign Exchange Valuation 79

PYMNTS

OCTOBER 28, 2020

Today in B2B payments, accounts payable automation firm CPS finds a buyer. Plus, a new FinTech, OpenEnvoy, launches to combat B2B payments fraud, while PCMI collaborates on B2B payments automation, and OpenPayd launches an FX-as-a-Service solution. REPAY Inks Deal For B2B AP Automation Firm CPS. 27) announcement.

B2B 56

B2B Foreign Exchange Accounts Payable Invoicing 56

PYMNTS

OCTOBER 23, 2018

Bank of America Merrill Lynch (BofA Merrill) is introducing a new solution for other financial institutions (FIs) in the interbank payment system to automate foreign exchange (FX) conversion. The solution is supported across 89 countries and can make conversion in 41 currencies, the bank noted.

Foreign Exchange 76

Foreign Exchange Banking Currencies Compliance 76

PYMNTS

SEPTEMBER 20, 2020

FLEETCOR , which works in global business payments, announced that it had reached an agreement to acquire cross-border payment firm Associated Foreign Exchange (AFEX) to help boost its own payments network, a press release says. AFEX provides services in over 100 currencies and has over 35,000 customers, according to the press release.

Foreign Exchange 121

Foreign Exchange Currencies Accounting Investments 121

PYMNTS

FEBRUARY 18, 2020

18) that it would improve its Sri Lanka operation with the launch of a new digital foreign exchange (FX) program, reports said. As the world’s supply chains move into settlements in local currency, Deutsche Bank wanted to make sure it offered that service for clients in Sri Lanka. Deutsche Bank announced on Tuesday (Feb.

Foreign Exchange 60

Foreign Exchange Banking Currencies B2C 60

PYMNTS

JULY 10, 2019

Some of the biggest industry trends, including faster payments, open banking and bank-FinTech collaboration, have found their ways into the Canadian market, the B2B payments space is not immune to disruption from these shifts. Faster Payments. Plus, those back office platforms aren’t always integrated with each other, either.

B2B 62

B2B Accounts Payable Mergers and Acquisitions (M&A) Reconciliations 62

PYMNTS

FEBRUARY 8, 2019

marketplace lending company Funding Options is teaming up with Caxton FX to introduce a prepaid multi-currency payment card for small businesses (SMBs). 7), while also helping SMBs save on foreign exchange (FX) costs. Employees who use the prepaid card can have their transactions monitored by managers in real time. .

Currencies 61

Currencies Foreign Exchange Reconciliations Treasury 61

PYMNTS

MARCH 16, 2020

Buyers will be able to pay suppliers in their own countries’ currencies with ease, according to the release. Risk will be less of an issue because of the increase in transparency and tighter control on foreign exchange payments, along with the currency exposures for those with stake in procurement and treasury.

SAP 99

SAP Foreign Exchange Reconciliations Currencies 99

PYMNTS

DECEMBER 9, 2020

With B2B eCommerce now a booming segment thanks to accelerated digitization in the last year, cross-border trade volume is expected to rise. He told PYMNTS that this trust deficit creates especially large pain points in an already complicated B2B payment process. But global trade is a complicated operation, to say the least.

B2B 64

B2B Foreign Exchange eCommerce Finance 64

PYMNTS

NOVEMBER 17, 2020

Customers will be able to compare purchase orders alongside invoices before going to straight to payment in more than 145 currencies with the AP technology of Beanworks and the payments technology of Cambridge brought together. Firms can start wire transfers and other payments with the Beanworks system as a result of the collaboration.

Accounts Payable 84

Accounts Payable Foreign Exchange B2B Invoicing 84

PYMNTS

JANUARY 15, 2019

HSBC is increasingly relying on blockchain technology to facilitate its foreign exchange trading services, reports in Financial Times said Monday (Jan. 14), with more than three million FX transactions having already been processed by the bank in the past year via blockchain.

Foreign Exchange 76

Foreign Exchange Currencies Treasury Banking 76

PYMNTS

DECEMBER 11, 2019

For years, any attention given to solving B2B payments friction was typically focused on the payer. Pain points experienced by B2B vendors when collecting cash will inevitably seep into their own AP processes. However, that understanding has not traditionally been the focus of B2B payments service providers. and Turkey.

B2B 53

B2B Accounts Payable Invoicing Currencies 53

PYMNTS

JANUARY 13, 2017

CSI Kick Start, a FinTech incubator operated by corporate payments company CSI globalVCard, said it has officially kicked off its second year of searching out B2B payments innovators. The firm also introduced new cross-border corporate payment solutions in 2016, with capabilities to transact in more than 140 currencies.

B2B 49

B2B Foreign Exchange Accounts Payable Startups 49

PYMNTS

OCTOBER 8, 2019

Citi has recruited foreign exchange management firm Kantox to enhance its FX services for corporate clients, the companies said in a press release on Monday (Oct. enabling those firms to access a custom platform that integrates with Citi’s existing foreign currency payments solution.

Foreign Exchange 74

Foreign Exchange Treasury Currencies Banking 74

PYMNTS

MAY 31, 2016

Foreign exchange rates. Earlier this month, GoldMoney , a FinTech that operates a financial services and payments platform that uses gold to settle transactions globally in any currency, launched its Gold Payroll and Gold Payout applications. As a global currency in and of itself, gold has universal acceptance.

B2B 47

B2B Foreign Exchange Currencies Compliance 47

PYMNTS

MARCH 9, 2018

Foreign exchange solutions company OANDA is enhancing its application programming interface (API) that opens up its foreign exchange (FX) technology to third-party apps. The company announced news on Thursday (March 8) that its Exchange Rates API has been updated to include real-time FX rates.

Foreign Exchange 70

Foreign Exchange Currencies Treasury Technology 70

PYMNTS

DECEMBER 15, 2020

In B2B payments, added Visa Direct Vice President of Global Segments and Market Development Tim Summers , businesses don't care exactly how funds get from Point A to Point B, but the rails that facilitate the movement of funds must do so seamlessly. When we think about rails, we think about them as a means to an endpoint," he said.

Foreign Exchange 94

Foreign Exchange B2B Reconciliations Banking 94

PYMNTS

APRIL 7, 2020

This has resulted in business-to-business (B2B) offerings such as mobile apps that help provide small business owners better overview and management of their companies’ bank accounts, as well as their accounts payable (AP) and accounts receivable (AR). Around The B2B API World. APIs are also helping FIs disburse loans.

eCommerce 63

eCommerce Banking Foreign Exchange B2B 63

PYMNTS

MARCH 16, 2020

Western Union, known for cross-border payments and money moving maneuvers, will use Integral’s technology for its electronic foreign exchange (eFX) risk management technology across the Western Union Business Solutions program, the release states.

Foreign Exchange 63

Foreign Exchange Risk Management Currencies B2B 63

PYMNTS

DECEMBER 10, 2020

Bank of America (BofA) is introducing a cross-border payment tracker and expanding SWIFT gpi to support more than 140 currencies, accessible through the integrated CashPro platform. The financial institution or corporate client gets transparency into fees and foreign exchange rates as well as visibility of payment settlement.

Foreign Exchange 104

Foreign Exchange Banking Treasury Compliance 104

PYMNTS

APRIL 16, 2020

In addition, Deutsche Bank has also made headlines for its work in Sri Lanka helping with a new digital foreign exchange program. That program is intended to keep the bank in line with modernity from other entities, which are beginning more and more to use local currency conversions when operating on cross-border deals.

Foreign Exchange 91

Foreign Exchange Currencies Banking Technology 91

PYMNTS

SEPTEMBER 18, 2019

Elsewhere in Europe, in the United Kingdom, Travelex has debuted a B2B FinTech platform known as Travelex Business. The company said that the API-led platform will let partners — including banks, retailers, credit unions and others — access payment and foreign exchange services through a single place.

Foreign Exchange 68

Foreign Exchange Treasury Currencies B2B 68

PYMNTS

DECEMBER 2, 2019

London specialty business lender Just Cashflow (JCF) is partnering with London FinTech Ebury to roll out foreign exchange (FX) services, Just Cashflow announced in a company blog. . The FX solutions were developed for small- and medium-sized businesses (SMBs) dealing with business-to-business (B2B) cross-border transactions.

Foreign Exchange 52

Foreign Exchange B2B Currencies Invoicing 52

PYMNTS

AUGUST 21, 2020

Yet as cross border trade picks back up, the foreign exchange and global payments needs of businesses will intensify. FXPress entered the market with a focus on cross-border payments and foreign exchange services. Beyond Payments Initiation. “But payments is just one side of the equation,” noted Conibear.

Finance 69

Finance Foreign Exchange Currencies Banking 69

PYMNTS

MAY 12, 2017

The cross-border B2B payments market, on the other hand, is fraught with friction, despite being much larger in size — accounting for nearly 80 percent of global cross-border payment revenue, according to a 2016 report by McKinsey & Company. In comparison to P2P transfers, B2B payments logistically involve more heavy lifting, Laven said.

B2B 43

B2B Foreign Exchange Compliance Currencies 43

PYMNTS

NOVEMBER 16, 2020

Across Asia, an ongoing boom in global eCommerce volume, coupled with a convergence of market conditions, has made cross-border B2B trade a booming business — and a potentially lucrative one for small and medium-sized enterprises (SMEs). Currency Conversion Headache. Across Asia, Theaud explained, invoices are often issued in U.S.

Foreign Exchange 56

Foreign Exchange Currencies B2B Manufacturing 56

PYMNTS

NOVEMBER 21, 2018

businesses are over-exposed to risks related to interest rate and foreign exchange volatility, according to new Citizens Bank research. corporates have raised concerns over the negative impact that foreign exchange volatility might have on profits, particularly as ongoing global trade disputes impact the FX markets.

Foreign Exchange 67

Foreign Exchange Banking Valuation Currencies 67

PYMNTS

DECEMBER 13, 2018

Foreign exchange (FX) volatility can be detrimental to businesses with heavy reliance on cross-border operations. “During the past quarter, exchange rates across the world have been in a state of fluctuation, partly due to trade issues — not just Brexit, but also the U.S. Trade tensions between the U.S.

Foreign Exchange 62

Foreign Exchange Currencies Profit and Loss Finance 62

PYMNTS

DECEMBER 8, 2017

In a press release , Payment Rails said its white label platform supports business payments sent to more than 220 countries in more than 135 currencies. Earlier this week, another cross-border payments company, nanopay, announced the launch of its own B2B payments solution that similarly supports API connectivity.

Foreign Exchange 78

Foreign Exchange Treasury B2B Compliance 78