Offering Significantly Reduces Cross-Border Payment Costs for Global Organizations
BOSTON, Nov. 09, 2022announced the launch of their global FX payment service, which provides multinational clients with in-platform access to over 140 currency options across 175+ countries.
By using TIS' platform to execute cross-border transactions, companies can avoid the expensive FX fees and non-competitive exchange rates that are often observed in the market. As a result, companies that generate a high volume of cross-border transactions can achieve significant cost savings.
Due to the increasingly global nature of modern business and the need for organizations to execute payments across numerous regions and territories, the new suite of FX payment services offered by TIS provides immense value. The primary benefits afforded to organizations include:
- Integrated Access to 140+ Currencies Across 175+ Countries. TIS' FX payment capabilities provide businesses with integrated access to nearly every currency option and local market in the world.
- Reduced FX Rates & Transaction Fees. With the ability to execute cross-border payments using local currencies and payment rails, TIS users can achieve significantly lower FX rates and transaction fees compared to traditional channels. Pricing is competitive and transparent.
- Secure & Seamless Cash & Currency Management. When combined with TIS' existing suite of payments and liquidity management solutions, businesses can now improve their level of security, enhance process efficiency, and gain complete control over their global cash and payments activity across any bank, region, entity, currency, network, or market.
As of November 2022, TIS clients, including award-winning Non-Profit IFAW, were already leveraging the FX payment solution to achieve substantial cost savings over their previous setup. According to John Kluza, Group Treasurer at IFAW, "For several years now, we have been using TIS to manage global bank connectivity and payment workflows across 20+ banks and 40+ countries. Now with their integrated FX payment tools, IFAW can enhance our cross-border payments activity to incur less fees in each region we service. So far, we have been very satisfied with the results."
This sentiment was backed by Joerg Wiemer, Co-Founder and CSO of TIS, who said, "Many TIS clients are multinational organizations that stand to benefit significantly from enhanced FX payment solutions. With these new capabilities, TIS now provides market-leading FX payment services that enable clients to substantially reduce their cross-border payment fees and also exercise more control over global payment operations, especially when transacting in foreign markets."
Download the expanded factsheet FX Payment Management.
About TIS
TIS helps organizations simplify and streamline their global payments and liquidity management operations. Our cloud-based platform empowers businesses to optimize critical functions surrounding cross-border and domestic payments, bank connectivity, cash forecasting, fraud prevention, payment compliance, and more. Corporations, institutions, and business vendors leverage TIS to transform how they connect with global banks and financial systems, collaborate on payment processes, execute outbound payments, analyze cash flow & compliance data, and promote working capital efficiency.
Visit tispayments.com
Contact Information:
Jennifer Knutel
VP Marketing
jennifer.knutel@tispayments.com
978-875-2085
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