Businesses Back Travelex Over Mega-Banks in Cross-Border Payments
Payments, a leading provider of international payments and foreign exchange
solutions, continues to emerge as a clear industry leader in global payment
solutions, according to a Tower Group research report released today. This
follows the launch of GEO, Travelex’s next generation payments solution and
its partnership with
2010.
This is the second year running that TowerGroup has recognised Travelex
Global Business Payments as the leading provider of international payments
and foreign exchange solutions for small and medium sized businesses. This
year’s rating clearly demonstrates how Travelex is advancing on the
mega-banks in cross border payments.
General market trends indicate businesses are not only demanding better
payments integration, file management and reporting structures, but also
require online access, system modernization/scale improvement and the
delivery channel integration on the client servicing side and Travelex have
significantly delivered in these areas.
“Travelex is delighted to be recognised by TowerGroup as an industry
leader across multiple categories. Increasingly, SME’s are demanding payment
solutions that go beyond the services available from their traditional bank
partners,” comments
Global Business Payments.
“We are committed to supporting small and medium sized businesses and the
new Travelex GEO platform provides a unique solution to address their needs.”
Business Payments has continued to build on its market leading position to
SMEs over the last twelve months. It has a clear edge in the SME market and
there is further opportunity for Travelex to pursue partnerships with the
traditional small business institutional providers, global payments networks
and service providers, and core banking solutions providers who are seeking
to embed greater payments capabilities into their solutions sets.”
Notes to editors
TowerGroup research study ranked Travelex GlobalPay as industry leading
and superior in the following categories. The report defined industry leader
as a best-in-class offer and superior as highly competitive.
GlobalPay Criteria Industry Leading Superior
Ease of Use +
Level of Integration +
Beneficiary Management +
Customer Support +
Payment Visibility +
Reporting Capabilities +
FX Capabilities +
Methodology
The research study was carried out by TowerGroup in consultation with
Travelex. TowerGroup assessed the products and value proposition of 16
national and regional competitors to Travelex’s GlobalPay international
payment platform across five primary geographies:
positioning, strength and weaknesses of each competitor offering relative to
Travelex, as well as the customer, marketing and sales positioning that each
competitor is pursuing in the B2B international payments space. The typical
competitor review involved product demos and conversations with sales and
product management staff.
About Travelex Global Business Payments
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.
Every year, Travelex processes payments around the world for over 35,000
businesses to one million beneficiaries.
For more information, visit http://www.travelexbusiness.com/na. In
United States
Inc. or Travelex Currency Services, Inc. In
Travelex Canada Limited.
Media Contacts
Caroline Parker / Rob Arnott
FD
+44(0)20-7269-7295 / +44(0)20-3077-0404
Caroline.Parker@fd.com / Rob.Arnott@fd.com
SOURCE Travelex Global Business Payments