Cambridge Global Payments, a US-based provider of cross-border payment services, and CSI globalVCard, an electronic payments provider, have collaborated to provide a fully integrated accounts payable (AP) solution for global businesses.
As per the agreement, Cambridge’s payments technology and CSI’s electronic AP solution will be integrated, enabling customers to transfer money safely, quickly through a web or mobile portal, 24/7.
Cambridge Global said that international payments can be issued and settled via virtual credit card, ACH, check or wire transfer in over 140 currencies using one single payment file upload.
CSI globalVCard managing director Jason Kolbenheyer said: "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."
Cambridge Global Payments CEO Gary McDonald said: "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."