Travelex Global Business Payments Launches GlobalPay Alliance (GPA) in Asia
Underscoring Travelex’s Commitment to Asia Market
Increased Demand from Financial Institutions for Partnerships
HONG KONG, September 17, 2009 – Travelex Global Business Payments, a leading provider of international payments and foreign exchange solutions, announced the expansion of its GlobalPay Alliance (“GPA”) offering to the Asia-Pacific marketplace. Launched today in Hong Kong, banks and financial institutions across Asia will now have access to Travelex Global Business Payments’ truly global payment platform that provides one, secure point of entry to manage domestic and international payments and reconcile balances in most traded currencies.
“Our roll-out of GlobalPay Alliance into the Asia-Pacific region is another example of Travelex’s continued dedication to providing the most innovative, global payment solutions to the marketplace,” said David Sear, divisional managing director, Travelex Global Business Payments. “Asia plays a critical role in today’s global marketplace and we are excited to be expanding our offering in this region.”
Travelex Global Business Payments GPA has enjoyed tremendous success in the North America region, currently servicing more than 50,000 active users from financial institutions in the U.S. alone. More than fifty percent of the financial institutions in North America currently leverage Travelex, directly or indirectly, as their payment provider.
“There is an acknowledged need for best-in-class payment systems among many of the financial institutions in Asia and GlobalPay Alliance offers them a low-cost entry into this market segment,” said Kerry Agiasotis, Regional Divisional Director, Asia Pacific region. “Leveraging the experience gained through partnering with leading banks and financial institutions in North America, Travelex is well positioned for a successful roll-out of GlobalPay Alliance in Hong Kong and throughout Asia. With this turn-key offering, we will now be able to offer partners a single, integrated payment platform and superior customer service with local market expertise.”
Travelex GPA is an award-winning, web-based application that allows financial institutions to quickly set up beneficiaries, quote and order foreign currency, make international payments and report on previous transactions. With flexible integration options, GPA can be used by financial institutions of any size and is suitable for all types of payments – domestic and cross border, urgent and non-urgent.
“At Travelex Global Business Payments, we recognize the ‘pain points’ that financial institutions encounter when providing tailored, global payment systems to their customers. GlobalPay Alliance offers a cost-effective and user-friendly option. Using GlobalPay Alliance, banks and financial institutions can offer their customers a solution that gives them increased control and flexibility over all their payments as well as unrivalled beneficiary management,” said Adam Tiberi, senior vice president of global product management, Travelex Global Business Payments.
David Sear will be participating on a Payment Innovation panel at the 2009 Sibos conference in Hong Kong, September 14-18, 2009 (http://www.swift.com/sibos2009).
About Travelex Global Business Payments Data
The Travelex Global Business Payments customer satisfaction data was an online survey fielded in December 2008 with 53 Hong Kong based company respondents.
About Travelex Global Business Payments
Travelex, the world’s largest non-bank international payments and foreign exchange provider, makes payments easy for any business. Travelex operates in over 30 countries and processes payments globally to more than one million beneficiaries each year. For more information, visit www.travelexbusiness.com/hk.
About Travelex
Travelex is a global foreign exchange specialist providing the payment and receipt of domestic and international funds for businesses of all sizes. For more than 30 years, Travelex has provided clients with sophisticated market knowledge, leading edge technologies and practical and innovative solutions tailored to individual requirements.
The Travelex worldwide network handles one million beneficiaries on behalf of 38,000 businesses and 4,000 financial institutions in 35 countries.
The Travelex solution is scalable and flexible and our systems can be easily integrated with existing finance and ERP systems. Greater automation and reduced administration and paperwork, combined with a simple and easy to use interface and customized components make Travelex the natural choice for businesses looking to streamline processes, reduce errors, lower account payable overheads and better manage currency risk.
