Tradeshift and TransferMate Announce Strategic App Solution on Tradeshift Platform for Commercial Transactions Across Borders
SAN FRANCISCO — Tradeshift, the leader in supply chain payments and marketplaces, today announced a new app integration from TransferMate Global Payments. This new integration makes it even easier than ever for global commercial buyers and sellers to digitally connect along every transaction phase. The new solution automates same-day cross border payment services from commercial transactions anywhere in the world more accurately, securely, and with lower fees than traditional correspondent banks.
Seamless integration of the TransferMate app eliminates complexity, improves speed, transparency, and reconciliation while also saving time by enabling Tradeshift customers to complete all last-mile cross border payment transfers within the Tradeshift platform.
“TransferMate’s proven global customer success integrated software platform, together with one of the widest portfolios of regulated payment licenses across the globe, makes them an ideal application partner,” says Christian Lanng, Chief Executive Officer, Tradeshift. “More accurate, faster cross-border payments such as those that TransferMate provides are a critical value add for our customers.”
“TransferMate provides an integrated payments platform for importers and exporters to send and collect their funds across the globe. This greatly improves working capital and eliminates unnecessary cost and administration for companies. We are delighted to partner with Tradeshift given their mission to help buyers and suppliers digitize trade transactions. Adding the functionality to pay or receive internationally and combining TransferMate’s global network of regulated payment licenses within the Tradeshift platform provides their customers across the world with significant savings,” says Sinead Fitzmaurice, Co-Founder, TransferMate Global Payments.
This unique TransferMate offering has also attracted major strategic investments from leading digital banks such as ING Group N.V. and Allied Irish Bank, who invested €51 million in 2018 and also partner with TransferMate to enhance the bank’s capabilities to provide their B2B customers with a seamless cross border payments solution.
TransferMate Global Payments is the market-leading choice for international banks and businesses who seek a simple, cost-effective solution when sending and receiving foreign currency payments. With one of the world’s most extensive network of bank accounts, trading in over 162 countries, TransferMate secures better exchange rates, eradicates bank fees and provides clients with faster payment services. TransferMate’s market-leading B2B technology platform integrates with a range of enterprise software systems, including the world’s top cloud accounting platforms. ING Group N.V., one of Europe’s leading banks and AIB, are both strategic partners with and investors in TransferMate Global Payments.
Tradeshift drives supply chain innovation for the digitally connected economy. As the leader in supply chain payments and marketplaces, the company helps buyers and suppliers digitize all their trade transactions, collaborate on every process, and connect with any supply chain app. More than 1.5 million companies across 190 countries trust Tradeshift to process over half a trillion USD in transaction value, making it the largest global business network for buying and selling. Discover commerce for all at tradeshift.com