Company of the Month June 2021: TransferMate collaborates with Alibaba

Pictured: Sinead Fitzmaurice, CEO of TransferMate Global Payments

TransferMate is the Business & Finance Company of the Month June 2021, in association with KPMG

TransferMate Global Payments, a provider of payments infrastructure as a service, announced a new collaboration to introduce its cross-border payment experience to sellers and buyers of Alibaba.com, an ecommerce platform for global wholesale trade. Customers of Alibaba.com can use TransferMate’s platform to receive and make payments, benefitting from preferential FX rates, quick transaction times and no wire transfer fees. TransferMate customers will also be able to access global markets when selling on Alibaba.com, broadening their reach to a wider international customer base.

This cross-border solution from TransferMate improves the cash flow of the billing business, which might normally wait days for a payment. TransferMate’s unique global network of payment licences around the world allows transfers to take place at a faster pace, while also bypassing the traditional correspondent banking system where transfer fees are often taken out of the payment amount and billers receive funds that fall short of the full invoiced amount.

“We are thrilled to offer our payments solution to users of one of the largest platforms for global trade, eradicating traditional cross-border payment challenges for these businesses.

Sinead Fitzmaurice, CEO of TransferMate Global Payments – a subsidiary of Clune Technology Group said, “We are thrilled to offer our payments solution to users of one of the largest platforms for global trade, eradicating traditional cross-border payment challenges for these businesses. TransferMate was founded to make international payments easier for businesses that wanted to transact globally, and we could not agree more with Alibaba.com’s mission to make it easier to do business anywhere. Together, we are bringing cutting-edge solutions to companies of all sizes, allowing businesses to expand their global reach.”