Transpay and Base Commerce have partnered in launching a new solution that aims to ‘revolutionise’ the way that the latter’s customers make global payments.
Transpay is a business-to-business and business-to-consumer (B2B/B2C) cross-border payments platform with the world’s largest, independent, direct-to-bank payments network, while Base Commerce provides integrated payments solutions specifically for electronic commerce (ecommerce) and Software-as-a-Service (SaaS) businesses.
Base Commerce said that Transpay’s pay-by-email global mass payments platform was selected for its simplistic, user-friendly interface, flexible payout options for sending payments to both developed and emerging markets, and strong foreign exchange (FX) and global compliance management.
“The partnership with Transpay allows us to offer a fast, seamless and cost-effective global funds remittance solution to our customers without the burdens and costs of directly entering the money remittance business,” said John Hughes, president of Base Commerce.
“This allows us to lever our leading edge payments technology and attach it to a true innovator in global payments.”
On day one of SIBOS, panellists unanimously agreed that doing nothing to modernise payments was no longer safe bet for transaction banking.
On day one of Sibos 2017, Stefan Dab, The Boston Consulting Group led a conversation examining the future of correspondent banking, and specifically the pain points corporate treasurers face in their cross-border payments operations and where technology can be developed to alleviate these.
Rising interest rates, excitement around blockchain use cases and cross-border payments were all hot topics at this year's AFP conference in San Deigo.
Today CGI and GTNews have announced the launch of the fifth annual Transaction Banking survey report, which offers which offers critical insight into the corporate-to-bank relationship.