Travelex Global Business Payments, a provider of international payments and foreign exchange (FX) solutions, has launched an application for its corporate clients and partners enabling them to process payments automatically and save thousands of man-hours. The new functionality is a payment file transfer solution called Travelex fx360 that allows businesses of any size to upload a single file of multiple types of payments directly into the payment processing system and then have the file reconcile back into their accounting or enterprise resource planning (ERP) system.
Travelex fx360 accepts and processes payment files in a variety of formats and converts the files into one format for all payment types – wires, drafts, domestic, international, and multi-currency – using a unique file mapping technology.
“Travelex fx360 enables the replacement of an entire network with a single, flexible interface that processes several payment types and currencies from multiple banks and many clients have already taken full advantage of this leading edge payment processing technology,” said Adam Tiberi, senior vice president of global product management at Travelex. “It completely eliminates a client’s dependency on costly IT resources and significantly reduces the time it takes the IT team to format payment files to a proprietary bank interface, which in turn increases productivity.”
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