B2B Payments

TransferMate Partners With AccountsIQ To Streamline FX Payments

B2B payments company TransferMate Global Payments has announced a partnership with AccountsIQ, which will enable its customers to access preferential FX rates for payments through an automated solution within the AccountsIQ system. TransferMate, which is partly owned by AIB and ING Group, has built one of the largest portfolios of payment licenses in the world, partnering with banks, FinTech firms and software providers to offer its clients better exchange rates, lower bank charges and improved reconciliation.

“TransferMate is delighted to announce this new partnership with AccountsIQ. With a growing global client base, more AccountsIQ users are demanding simpler, faster and more cost-effective foreign currency payment solutions,” said Gary Conroy, TransferMate’s chief product officer, in a press release. “TransferMate’s integration with AccountsIQ software streamlines making an FX payment, right inside the Accounts IQ platform. This provides a preferential exchange rate and lower fees than a traditional bank, along with huge time savings for accounts teams. A key driver of TransferMate’s growth is deep strategic partnerships with accountancy software providers, and we are really excited to be working with Accounts IQ.”

Launched in 2008, AccountsIQ’s cloud accounting software now supports more than 25,000 users in over 40 countries. Its clients include Web Summit, Gaelectric, Nuritas and Altratech.

“This FX payments solution is far quicker and cheaper than people have been used to. It will make a real difference to senior finance staff’s time. We’re thrilled to be able to give back time and money to our customers with such a simple solution. After using this solution, customers will wonder how they ever did it the old way,” said Darren Cran, AccountsIQ’s UK managing director.

The press release added, “AccountsIQ is constantly looking to provide the most complete solutions for customers. This partnership with TransferMate allows us to provide a market-leading service and reinforces AccountsIQ’s position as a real innovator in the provision of comprehensive accounting applications.”


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.