Payments company CSI globalVCard specializes in helping businesses go electronic in their payments practices, offering virtual and mobile payment solutions, as well as commercial and fleet cards, to corporates looking to make their accounts payable processes more efficient.
In CSI’s latest move, the company can now help its business clients take advantage of another benefit of electronic payments: cross-border deals.
CSI globalVCard announced today (Jan. 26) that it has completed the integration of its international payments capabilities into its electronic accounts payable tool, globalVCard paysystems.
[bctt tweet=”CSI globalVCard has completed the integration of international payments capabilities.”]
According to the company, businesses can now make cross-border payments in more than 140 currencies, with funds transferring directly between company bank accounts. The solution is offered to businesses at a flat rate, allowing buy-side organizations to pay suppliers across borders “hassle-free,” according to globalVCard VP of International Payments in China Jiajia Liu.
The company’s Spend Secure managing director, Jason Kolbenheyer, said in a statement that the cross-border payments capabilities look to resolve friction that U.S. companies face in trying to pay their overseas partners.
“Cross-border payments have been a real challenge for U.S. businesses with global operations,” he explained. “Exchange rates are not transparent, and these transactions are often loaded with hidden fees. We’ve tackled global payments just as we do domestic payments — creating secure solutions that are simple and frictionless.”
The cross-border payment feature adds onto globalVcard’s paysystems existing solutions for accounts payable, corporate travel expense management, fuel and purchasing cards and corporate mobile payments.
Last year, CSI globalVcard struck a partnership with China-based cross-border payments processor Geoswift in an effort to ease friction of B2B interactions involving Chinese corporations. At the time, CSI globalVCard President and CEO Keith Stone hinted at the company’s focus on cross-border payments.
“Many of our customers are world-leading brands with payment needs that expand beyond the U.S. borders,” he stated. “The ability to facilitate secure payment transactions into and out of China is a significant milestone for CSI, moving us closer to our goal of enabling secure, seamless payment transactions anywhere in the world.”