Ivalua pairs up with TransferMate in cross-border trade push
- Ivalua, which is a French financial technology firm, has confirmed that it will pair up with TransferMate, one of the world’s leading payment infrastructure companies.
- Ivalua will integrate TransferMate’s payment system into its own product offering, with one ultimate aim being to bring down the level of friction in international payments in a context of rising trade volumes.
- “Our partnership with TransferMate will help to simplify and streamline complex, costly payment processes, but also bridge the gap between procurement and finance processes,” said a spokesperson for Ivalua.
Ivalua, a French financial technology company, has announced a new pairing with a world-famous payments infrastructure firm.
The company, which is known in the global payments market for its procurement functions, has paired up with the Irish cross-border payments firm TransferMate.
The former will be using the latter’s international money transfer functions in its product offer, Ivalua Pay.
The aim, the companies said, will be to reduce friction in the cross-border trade world.
Ivalua pointed out that figures reveal a potential rise of nearly 5% in global trade volumes across 2022.
Ivalua describes itself as a major provider of spend management solutions.
Its products are cloud-based, and it brings them together in one centralised platform for business usage.
TransferMate, meanwhile, is a major provider of business-to-business payments infrastructure.
Its clients include some of the biggest names in the financial sector, including AIB and ING.
Speaking about the latest partnership, a spokesperson for Ivalua said that the “source-to-pay” journey was an important one to analyse in this situation.
David Khuat-Duy, who is the firm’s founder and chief executive officer, said that the new arrangement would give clients the chance to improve their supplier relationships.
“Having the complete source-to-pay journey within the Ivalua Platform will help our customers build stronger, reliable supplier relationships,” he said.
He also said that the new arrangement would bring down complexity and cost.
“Our partnership with TransferMate will help to simplify and streamline complex, costly payment processes, but also bridge the gap between procurement and finance processes.”
Sinead Fitzmaurice, the chief executive officer of TransferMate Global Payments, said that the company was leading the way when it comes to transparency and security.
She said that the process was also speeding up business-to-business international payments.
“Our unrivaled licensing and banking networks are setting new standards of security, transparency and speed for B2B cross-border payments.”
She added that the company was “delighted” to be participating in this latest collaboration.
“We are delighted to be partnering with Ivalua to complete the advanced capabilities of their pioneering new payments platform, helping them to eliminate the friction inherent in the financial processes of international trade.”
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