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Guaranteed Irish celebrates its professional services sector and fintech members in May. At its annual roundtable event, the organisation will discuss opportunities to expand this sector and position its members as global leaders. This year, Guaranteed Irish has invited TransferMate Global Payments to join its panel of speakers.

TransferMate Global Payments is the market-leading choice for international banks and businesses who seek a simple, cost-effective solution when sending and receiving foreign currency payments. With one of the world’s most extensive network of bank accounts and trading in over 162 countries, TransferMate secures better exchange rates, eradicates bank fees and provides clients with faster payment services. 

TransferMate’s B2B technology platform integrates with a range of enterprise software systems, including the world’s top cloud accounting platforms. TransferMate partners with the world’s most prominent banks, including ING Group and AIB. 

TransferMate Benefits

TransferMate’s key focus since launching was to build a best-in-class currency settlement solution driven by clients’ needs. The firm delivers three key benefits to their clients: significant savings, high-speed transfers and the removal of burdensome administration by using the proprietary technology platform and API integrations. These benefits have led to TransferMate processing over $11bn in transactions worldwide. 

In Association with

Customers benefit from the firm’s global regulatory footprint, along with the development of the international bank account network to complement its payment solutions. TransferMate is also in a strong global market position for payroll, banking and B2B services alike. In 2017, AIB invested €30m in TransferMate for a minority stake in the business. Eight months later, ING invested a further €21m and entered into a strategic partnership with TransferMate – testament to the quality of its services.

Global Receivables

For many businesses, billing and collecting overseas payments can be a long and laborious task. TransferMate’s Global Receivables solution automates the process, with full visibility on the payments life-cycle from one unified platform. Furthermore, TransferMate’s bespoke payment technology enables access to new markets, facilitating multiple currencies seamlessly. This lets businesses enter new markets while easily dealing with cross border payments in multiple currencies. 

The digital economy has opened up many new opportunities for businesses to grow and expand in their own markets and beyond. TransferMate supports businesses by helping to decrease international payments costs, improving cashflow for businesses with international supply chains and customers, and enhancing payments transparency.

Exchange Rate Control

Businesses can be exposed to high receiver fess, which makes selling into new countries more difficult and costly. Companies can also fall victim to poor exchange rates when billing in foreign currency, or they might need to hold accounts in the currencies they deal in.

TransferMate provide a platform whereby the business has more control over exchange rates and doesn’t suffer the cost of using intermediary banks. TransferMate offers businesses the opportunity to trade in international markets as if they were local by providing the opportunity to bill and collect payments in local currency. 

• TransferMate Global Payments chief product officer Gary Conroy (pictured) contributes to the business podcast series on guaranteedirish.ie

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