JAGGAER, TransferMate to offer source to settle solutions

TransferMate is a globally regulated B2B payments firm that enables companies to send and receive cross-border payments. Banks, fintechs, and software providers partner with TransferMate to offer a better user experience for their business customers. Using TransferMate’s technology and global banking infrastructure, companies benefit from better exchange rates, greater transparency, and improved reconciliation via direct integration into accounting and ERP systems.

JAGGAER customers who use TransferMate for international wire transfers will simply book a payment, locking in a real-time exchange rate and lodging sending the funds to a TransferMate account in their own country or regulatory jurisdiction. TransferMate will then transfer the funds to the beneficiary in the target country. With this process, the buyer avoids payment fees and the suppliers requesting a payment receive payment faster and more securely. The system also enables mass outgoing and incoming payments, helping users to avoid the potential financial losses caused by payments in transit, which can take days.