- TIS, a provider of enterprise-level international money transfers, has confirmed that it will be bringing a new forex payment service to market as part of a push to help clients based around the world.
- Customers will be given access to more than 140 currency options and the new system will work in over 175 nations around the world, press reports said.
- “With these new capabilities, TIS now provides market-leading FX payment services that enable clients to substantially reduce their cross-border payment fees and also exercise more control over global payment operations, especially when transacting in foreign markets,” said a TIS spokesperson.
TIS, a provider of enterprise-level international money transfer services, has confirmed that it will be bringing to market a new forex payment service.
This will allow customers to place foreign exchange transactions on an ‘in-platform’ basis.
They will be given access to over 140 currency options and the new system will work in more than 175 nations around the world.
It is thought that costs will be brought down thanks to a reduction in foreign exchange rates and transaction fees. The new service is also likely to offer what was described by the firm as “seamless” cash management.
“Many TIS clients are multinational organisations that stand to benefit significantly from enhanced FX payment solutions,” explained Joerg Wiemer, Co-Founder and Chief Strategy officer of TIS.
“With these new capabilities, TIS now provides market-leading FX payment services that enable clients to substantially reduce their cross-border payment fees and also exercise more control over global payment operations, especially when transacting in foreign markets,” he said.
One of the firm’s current clients, IFAW, said that it will use the new part of the service to grow its international payments activity.
“For several years now, we have been using TIS to manage global bank connectivity and payment workflows across 20+ banks and 40+ countries,” said Group Treasurer John Kluza.
“Now with their integrated FX payment tools, IFAW can enhance our cross-border payments activity to incur less fees in each region we service. So far, we have been very satisfied with the results.”
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