Chimoney partnered with Corpay

Monday 15 January 2024 14:32 CET | News

Canada-based payment solutions provider Chimoney has partnered with Corpay to support financial inclusion and economic empowerment for 130 countries. 

Through this collaboration, Corpay integrates its solutions with Chimoney to improve the latter’s service, allowing cash out to bank accounts in additional countries, thus complementing its offering of cash out to Bank Accounts, Mobile Money, Airtime, and Gift Cards. Chimoney’s users receive the ability to access and leverage Corpay’s cross-border solutions while helping the company to minimise foreign exchange exposure risk as it allows businesses to pay globally using an email address, phone number, and social media username. Furthermore, Corpay’s trading platform allows Chimoney’s customers to access payouts to more countries and currencies.

Canada-based payment solutions provider Chimoney has partnered with Corpay to support financial inclusion and economic empowerment for 130 countries.

Chimoney – Corpay partnership objectives 

Representatives from Corpay expressed their enthusiasm over the commercial partnership with Chimoney, underlying the possible advantages that the latter’s customer base can benefit from, including specialised services, access to cross-border payments, and currency risk management solutions. Additionally, the company stated its commitment to creating long-term business partnerships with customers and enabling their international payments, helping them execute their plans to manage their currency risk, and supporting their international expansion.

Regarding global payments, Chimoney’s objective is to connect payment networks, currencies, and rails to allow individuals to get paid with minimal effort and complexity. By joining forces with companies like Corpay, Chimoney aims to ensure compliance with local regulations, while leveraging partner knowledge to support the management of foreign exchange risk. Through this, the company focuses on decreasing foreign exchange and regulatory risk for its users and corporate clients. According to Chimoney’s officials, the company’s commitment is to offer economic opportunities worldwide and the collaboration with Corpay solidifies its objective of developing simplified access to more payout options and countries. By leveraging Corpay’s knowledge and platform, the company intends to provide its customers with access to a more expansive and efficient payout ecosystem.

Corpay’s latest developments

As a provider of business payments, Corpay supports companies of all sizes in tracking, managing, and paying their expenses. The company offers a comprehensive suite of online payment solutions, including bill payments, AP automation, cross-border payments, currency risk management, and commercial card programs.

In addition to its partnership with Chimoney, Corpay recently announced several improvements to advance its development strategy, including the launch of Payments GPS, an offering capable of live tracking payments. The solution was developed leveraging proprietary tracking technology that allows customers to monitor payments in real-time.

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Keywords: cross-border payments, online payments, partnership, payout, regulation, financial inclusion
Categories: Payments & Commerce
Companies: Chimoney, Corpay
Countries: World
This article is part of category

Payments & Commerce




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