Medius delivers seamless cross-border payments with TransferMate
- Written by Cicion
STOCKHOLM, June 30, 2021 – Medius, a leading provider of spend management solutions, is announcing its partnership with TransferMate, the leader in payments infrastructure as a service, to offer Medius customers an integrated and seamless way to make international payments without leaving their existing spend management platform.
This agreement utilizes TransferMate’s globally regulated network of payment licenses and technology to employ a faster, more cost-effective, secure and transparent way to move money across borders for Medius customers.
Per Åkerberg, Medius CEO, said: “We live in an increasingly globalized world. As such, it is imperative our customers can pay suppliers anywhere, quickly, easily and securely. Our partnership with TransferMate facilitates just that.
“Using their class-leading technology in tandem with Medius Pay, our intuitive and easy-to-deploy payments software, we’ve modernized payment processing.”
Medius Pay is embedded in the Medius Spend Management suite and fully integrated with Medius AP Automation. It provides a single, secure channel for all supplier payments, simplifying the entire invoice-to-pay lifecycle, from receipt of supplier invoice to final settlement.
The seamless process delivers absolute control and transparency, with straightforward real-time reconciliation and a simplified payment execution process that is fully auditable.
Commenting on the new partnership with Medius, Sinead Fitzmaurice, CEO of TransferMate – a subsidiary of Clune Technology Group, said:
“From inception, TransferMate was created to improve visibility, speed and reconciliation for B2B international payments. License by license, we have successfully built one of the industry’s largest settlement networks and we’re pleased to partner with Medius to offer seamless international payments to more business clients on their existing spend management platform.”
Fitzmaurice added: “Medius has not only built easy-to-use solutions, but their dedication to first-class customer support is something we admire and share.”
Medius is a leading provider of cloud-based spend management solutions, helping organizations drive their business forward by enabling best-in-class process efficiency, cost saving opportunities and greater financial control. Nearly 4,000 customers and 500,000 unique users worldwide use Medius spend management solutions, managing transactions worth more than $160 billion annually.
Medius was founded in 2001 and acquired procurement solution provider Wax Digital in 2019. Today, the company has over 400 employees and offices in Sweden (HQ), the United States, United Kingdom, Australia, Denmark, Norway, the Netherlands and Poland. For more information, please visit medius.com.
About TransferMate Global Payments
TransferMate — a subsidiary of Clune Technology Group founded by Terry Clune — is the world’s leading provider of payments infrastructure as a service, enabling companies to send and receive cross-border payments faster and easier. TransferMate, under the leadership of Clune and CEO Sinead Fitzmaurice, has built one of the largest portfolios of payments licences worldwide, including in 51 US states and territories, to support trading in 162 countries.
Leading banks, fintechs and software providers partner with TransferMate to offer an enhanced user experience for their business customers. The company has created bespoke integrations for banks like ING and AIB, who are also investors in the company, and Wells Fargo and software providers such as Coupa, SAP Concur, Tradeshift, Workday, etc. The TransferMate API solution allows partners to digitalise the payments flow within their software, enabling all businesses to achieving significant time and financial savings.