The new Global Receivables solution offers businesses an improved, transparent and same-day transaction solution, allowing them to simplify the process of collecting multiple overseas payments and improve cash flow. It is particularly suited to businesses with significant volumes of receivables in foreign currencies, offering highly competitive FX rates with no sender or receiver fees and the option of billing in the business’s domestic currency or that of its customer. 

Terry Clune, co-founder and CEO of TransferMate, said “For many businesses, billing and collecting overseas payments from customers can be a long and laborious task. This new Global Receivables solution automates the process, allowing companies to track the full payments life-cycle from one unified platform, freeing up time for them to focus on serving their customers and growing their businesses.” 

With Transfermate’s extensive global regulatory footprint and full state-by-state license approval in the US, not to mention its bespoke payment technology solution, businesses can enter new markets while easily dealing with cross border payments in multiple currencies. 

Clune continued “The digital economy has opened up many new opportunities for businesses to grow and expand in their own markets and beyond. Global Receivables supports them by helping to decrease international payments costs for business customers, improving cash flow for businesses with international supply chains and customers and enhancing payments transparency through a unified technology-enabled platform.”

AIB Managing Director of Wholesale, Institutional and Corporate Banking Colin Hunt said: “AIB is delighted to be backing this Irish digital payments provider, which is providing an innovative product to an international market.” 

Leading Irish-based accounting and business advisory firm, RSM Ireland has been using the new Global Receivables product for several years. Director of RSM Ireland, Warren Keogh said “We have worked with TransferMate for a number of years and have seen the value that their award-winning international payment service brings to our clients in terms of significant time and money savings on their foreign currency payments. This new Global Receivables product allows us to offer them even greater functionality and integration of their payment process through one unified platform.”