- Corpay, which is a major international money transfer firm, has announced that it will strike up a deal with Sila – a financial technology software platform.
- The new arrangement will see clients of Sila be able to access a variety of currencies in 100 countries around the world.
- “Through partnerships like this one, Sila feels well prepared to help those companies succeed,” said a leading figure at Sila.
Sila Inc., a leading financial technology software platform, has confirmed that it will work with Corpay.
Sila said that it had signed up to work with Corpay, an international money transfer provider that is owned by FLEETCOR.
Corpay offers a range of currency risk management options as well as cross-border payment for businesses.
It is expected that clients of Sila will now be able to gain access to more than 145 currencies across 100 nations.
Customers will be able to access the foreign exchange markets as well as make cross-border payments happen from the same point of control, it is believed.
It is also understood that there will be the opportunity for customers to switch with ease between making payments in their own country and making payments abroad.
In a statement, the chief executive officer and co-founder of Sila said that the firm’s goal has been to give entrepreneurs what they need.
Shamir Karkal said that it is the firm’s aim to help entrepreneurs build businesses – especially when it comes to firms looking to expand internationally.
“Sila’s main goal has always been to provide entrepreneurs with the tools to realize their vision and build a successful business, more often than not with an international component,” he said.
He added that Corpay has a lot of capacity to make cross-border payments happen – especially in terms of “depth and reach”.
“Corpay with its depth and reach in facilitating cross-border payments can be the perfect partner for our customers’ needs,” he explained.
He went on to say that the firm came across innovation on a regular basis – and that the company had some capacity to help firms in this situation.
“We see a lot of innovation from companies, particularly the ones focusing on emerging markets, that rely on phones and online apps rather than bank accounts and ATMs to enable cross-border transactions,” he said.
“Through partnerships like this one, Sila feels well prepared to help those companies succeed.”
Corpay is owned by FLEETCOR, which is a well-known company operating in the financial services sector.
Its firms and brands allow companies to settle payments using bookkeeping and expense management tools as well as cross-border payments services such as Corpay.
It is widely known for being an innovative and market-leading firm.
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