TransferMate reveals new link with Alibaba.com

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Lucy Ingham
Lucy Ingham
Head of Content
Lucy is Head of Content at FXC Intelligence, overseeing all content and taking deep dives into the trends and data driving changes in payments. Before joining FXC Intelligence, Lucy worked as a… Read more
  • Alibaba.com and TransferMate have announced a new collaboration to make online money transfers for global e-commerce providers easier and more efficient.
  • Sellers and buyers will now be able to make transfers more quickly and at more cost-effective foreign exchange rates – with turnaround timeframes reduced to same day or next day, and a ‘secure link’ being used for transferring.
  • “Together, we are bringing cutting-edge solutions to companies of all sizes, allowing businesses to expand their global reach,” said a senior figure at TransferMate.

TransferMate Global Payments, an international firm offering online money transfer tools as a service, has announced a new link with the e-commerce platform Alibaba.com.

The two companies are going to work together to offer an integrated cross-border payments service to buyers and sellers.

This will in turn allow customers buying on Alibaba.com to take and send payments while making the most of low, wallet-friendly foreign exchange rates.

They will also be able to turn around transactions in a fast timeframe and work without wire transfer fees.

It will also give sellers and buyers the chance to access global markets while being able to work in their own local currency – with conversions taking place over a secure system.

Timeframes will be next day in nature, or on some occasions, even same day.

Sellers will also not be required to be pay bank transfer fees.

In a statement, Sinead Fitzmaurice, who serves as the chief executive officer of TransferMate Global Payments, said that the firm was pleased to be offering this solution.

She added that Alibaba.com was one of the world’s biggest global buying and selling platforms.

“We are thrilled to offer our payments solution to users of one of the largest platforms for global trade, eradicating traditional cross-border payment challenges for these businesses,” she said.

She went on to explain that TransferMate was first set up to enable easier international money transfers for global firms.

“TransferMate was founded to make international payments easier for businesses that wanted to transact globally, and we could not agree more with Alibaba.com’s mission to make it easier to do business anywhere,” she said.

She concluded by pointing out that the two firms wanted to bring the best of technological innovation to companies across the globe.

“Together, we are bringing cutting-edge solutions to companies of all sizes, allowing businesses to expand their global reach,” she said.

In the press statement, the firm explained that the invoicing process that Alibaba.com merchants would now enjoy would be anchored around a “secure link” – meaning that safety is paramount when the transfer is made.

The firm also confirmed that companies buying items on Alibaba.com can also use the TransferMate service – marking the provider out as both a business-to-business and a business-to-consumer provider.

The online money transfer sector is forever changing and improving with innovations such as these – to get more information about what’s happening, take a look at our reviews section, which is jam-packed with everything on all the latest features.


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