TORONTO, ONTARIO (via Cambridge Global Payments, May 4, 2016) – Cambridge Global Payments, a leading provider of integrated cross-border payment services and risk management solutions, today announced its partnership with CSI globalVCard, a leading provider of electronic payment solutions, to provide a fully integrated AP solution for global businesses.
As companies expand globally, opening divisions or sourcing goods and services all over the world, the need to simplify cross-border payments has become crucial. From international rules and regulations to the volatility of the foreign exchange market, businesses today face a continuous struggle to navigate through global payment complexities. Paying suppliers overseas can now be as easy as paying domestic vendors.
“Both Cambridge and CSI share a vision to provide a seamless global payments system that in turn provides customers with the easiest path to their vendor payments,” Stated Jason Kolbenheyer, Managing Director, CSI globalVCard. “By incorporating Cambridge’s cross-border payments solution, we are setting the standard for the industry. Our globalVCard customers can achieve up to a 10% reduction in costs by locking in the best exchange rates upfront to pay vendors in their local currency.”
Through integration between Cambridge’s cutting-edge payments technology and CSI’s award-winning electronic accounts payable solution, customers will now be able to move money safely, quickly and intelligently through a web or mobile portal, 24/7. Using one single payment file upload, international payments can be issued and settled via virtual credit card, ACH, check or wire transfer in over 140 currencies. Moreover, businesses can take advantage of access to unparalleled exchange rates that are pre-negotiated with some of the world’s largest, fully regulated cross-border payment providers, which means higher cost-efficiency and no hidden fees.
“We are building an ecosystem with world-class partners who share our belief that customers should have a seamless global payment processing experience,” said Gary McDonald, Chief Executive Officer, Cambridge Global Payments. “Working with CSI, we are providing complete AP solutions that will deliver this experience to our global customers with new services that were not possible before.”