Ivalua and TransferMate to eliminate friction from cross-border trade

Tuesday 26 October 2021 13:43 CET | News

US-based spend management solutions company Ivalua has partnered with Ireland-based B2B payments company Transfermate, enabling frictionless international payments for suppliers.

This partnership will simplify payment processes by offering next-day payments to any supplier, regardless of their location. With this, businesses can unlock new opportunities and innovations by closing the cash gap between procurement and suppliers. By paying suppliers on-time, procurement teams can use payments to build performance-driven supply chains.

According to the press release, supplier payments, especially those that facilitate global trade, follow a complex, and time-consuming process that often results in late payments. With global trade volumes expected to grow by 4.7% in 2022, the financial friction that arises from such transactions weakens links in the supply chain, according to data put forth by the company in the press release.

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Keywords: online payments, supply chain finance, B2B payments, partnership, financial services
Categories: Payments & Commerce | Online Payments
Countries: United States
This article is part of category

Payments & Commerce

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