- Medius, which offers spend management solutions, said that it will work with the cross-border payments firm TransferMate to offer payments as part of its suite of spend management tools.
- The move will increase security, transparency and speed, a spokesperson for the firm said – and it’s all happening against the backdrop of an increasingly globalised world.
- “Using [TransferMate’s] class-leading technology in tandem with Medius Pay, our intuitive and easy-to-deploy payments software, we’ve modernized payment processing,” a spokesperson for Medius said.
A major provider of spending management tools has announced that it will pair up with the B2B cross-border payments technology provider TransferMate.
Medius said that it will work with TransferMate to provide a seamless and integrated payment experience within the Medius service
The new joint service will be based on TransferMate’s network of payment licences, the firms said.
It will improve security for Medius customers, and it will also boost transaction speed.
It will also be more cost-effective and transparent, the company said.
The ‘Medius Pay’ function, as it is known, comes as part of the company’s major product – the Medius Spend Management suite.
This is fully linked to the Medius AP Automation service and is a way for supplier payments to be made securely in one place – for the entire payments process.
In a statement, a senior figure at Medius said that it was vital for people to be able to settle bills with suppliers in a timely manner.
Per Åkerberg, who serves as chief executive officer of Medius, pointed out that this was happening against the backdrop of a more globalised world.
“We live in an increasingly globalized world. As such, it is imperative our customers can pay suppliers anywhere, quickly, easily and securely. Our partnership with TransferMate facilitates just that,” he explained.
He went on to say that the two firms were working together to bring payment processing up to date.
“Using their class-leading technology in tandem with Medius Pay, our intuitive and easy-to-deploy payments software, we’ve modernized payment processing,” he said.
For TransferMate, its chief executive officer Sinead Fitzmaurice said that the firm has always had a commitment to speed.
“From inception, TransferMate was created to improve visibility, speed and reconciliation for B2B international payments,” she said.
She added that the company had taken a deliberate approach of adding more licences to build out its network – and that it had since managed to create one of the sector’s biggest settlement networks.
“License by license, we have successfully built one of the industry’s largest settlement networks and we’re pleased to partner with Medius to offer seamless international payments to more business clients on their existing spend management platform,” she explained.
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