Chimoney, a Toronto-based Techstars-backed global payment solutions provider, has announced a new partnership with Corpay, a FLEETCOR® (NYSE: FLT) brand and global leader in business payments.
According to the Vice President and Head of Channels and Alliances at Corpay Cross-Border Solutions, Frank Mannarino, “the team at Corpay is excited to build a long-term business partnership with customers and power their international payments, help them execute their plans to manage their currency risk, and support their growth internationally.”
This latest development between the two companies will reshape the landscape of cross-border transactions and global payouts through the integration of Corpay’s innovative solutions with Chimoney, enhancing Chimoney’s service and enabling cash-out to Bank Accounts in more than 130 countries to complement Chimoney’s previously existing offering of cash-out to Bank Accounts, Mobile Money, Airtime, and Gift Cards.
Through this collaboration, Chimoney’s customers will be able to gain access to Corpay’s Cross-Border innovative solutions, thereby mitigating foreign exchange exposure risk for them. Also, with Corpay’s award-winning trading platform, customers will be able to access payouts to more countries and currencies effortlessly.
In further comments, Frank Mannarino explained that Corpay is very pleased to announce the commercial partnership with Chimoney.
“I have no doubt that Chimoney’s customer base can benefit greatly from our specialized service and access to our comprehensive cross-border payments and currency risk management solutions.”
The Founder and CEO of Chimoney, Uchi Uchibeke, added that Chimoney’s mission has always been to unlock economic opportunities for everyone globally, and the collaboration with Corpay amplifies the company’s vision of creating seamless access to more payout options and countries.
“With Corpay’s expertise and platform, we are poised to offer our customers access to a more expansive and efficient payout ecosystem. This is not just a partnership; it’s a synergy where innovation meets scale. For businesses and investors, it’s clear: Chimoney is setting new standards in fintech, constantly pushing boundaries, and striving for excellence”.
Chimoney’s vision for global payments is to connect all payment networks, currencies, and rails globally to enable people everywhere to seamlessly get paid with minimal complexity. By working with partners like Corpay, Chimoney can ensure compliance with local regulations and leverage Partner expertise to help them manage foreign exchange risks, drastically reducing foreign exchange and regulatory risks for Chimoney’s users and corporate clients.
