GlobeTopper Partners With Knox Wire on B2B Cross-Border Payouts

B2B gift card concierge firm GlobeTopper has launched a partnership with payment processor Knox Wire to power instant cross-border payouts.

Orchestrated by Zed Network, the collaboration will facilitate same-day payouts in more than 190 countries for GlobeTopper, according to a Saturday (Nov. 26) news release. GlobeTopper will also use Knox Wire’s payout system and foreign exchange services to add providers and expand available products.

“The partnership between Knox Wire and GlobeTopper is an exciting opportunity to allow both companies to provide better financial services globally in a dynamic digital payments environment,” said Stephen McCullah, Knox Wire’s chief executive.

PYMNTS looked at the rise of gift cards as an instant payout option for consumers last week in our conversation with Aron Alexander, CEO and founder at U.K.-based digital incentives platform operator WeGift.

His company, which operates in more than 30 countries, has managed to attract a significant number of corporations, boasting more than 1,500 major brands in its portfolio including Airbnb, Nike, Instacart, Mint Mobile, and Vodafone.

When it comes to multicurrency management, the firm’s technology allows customers to manage customer funds and make payouts securely to end customers in 20 currencies, removing any exposure to foreign exchange (FX) risks.

In the future, WeGift’s focus will be more about internationalization and reducing barriers across borders as well as adding new asset types to allow for things like frictionless transfer of value between different wallets, Alexander told PYMNTS.

Merchant acceptance would also be paramount, he added, as the company has seen a rise in demand from merchants who want to team with WeGift to accept and issue assets whether that’s through a gift card, NFT, a subscription or a product-level token.

“The next step for us is to enrich our merchant network and provide merchant partners with more tools to be able to take advantage of digital currencies,” said Alexander.