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Tag: Chimoney

  • Chimoney, Corpay partner to improve global payouts

    Chimoney, Corpay partner to improve global payouts

    Chimoney, a toronto-based Techstars-backed Fintech Startup, and Corpay have announced a partnership to reshape the landscape of cross-border transactions and global payouts.

    The Toronto-based global payment solutions provider, Chimoney will leverage the collaboration with Corpay, a FLEETCOR® (NYSE: FLT) brand and global leader in business payments to provide unsurpassed financial inclusion and economic empowerment for users across 130+ countries.

    The partnership is expected to enhance Chimoney’s services, enabling their users to cash-out to Bank Accounts in more countries, complementing Chimoney’s offering of global money cash-out to Bank Accounts, Mobile Money, Airtime, Gift Cards and more. 

    This alliance will give Chimoney’s customers easy access to Corpay’s Cross-Border innovative solutions, reducing foreign exchange exposure risk for Chimoney’s users. It would also make payouts easy to more countries and currencies, an enhancement on Chimoney’s previous reach.

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    “Corpay is very pleased to announce our 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,” said Frank Mannarino, Vice President and head of Channels and alliances, at Corpay Cross-Border Solutions.

    “The team at Corpay is excited to build long-term business partnerships with customers and power their international payments, help them execute their plans to manage their currency risk, and support their growth internationally.”

    Chimoney’s vision for global Payments is to connect all Payment networks, currencies, and rails globally to enable people everywhere to easily get paid with minimal complexity.

    By working with partners like Corpay, Chimoney can ensure compliance with local regulations and leverage Partner expertise to help manage foreign exchange risks, drastically reducing foreign exchange and regulatory risks for its users and corporate clients.

    “As Chimoney’s mission has always been to unlock economic opportunities globally, this collaboration with Corpay amplifies our 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,” added Uchi Uchibeke, Founder and CEO of Chimoney.

  • Firm joins list of ILP-enabled financial grant awardees 

    Firm joins list of ILP-enabled financial grant awardees 

    A global payout infrastructure and API connecting multiple payment rails, Chimoney has achieved a significant milestone by becoming the first awardee of the 2023 ILP-enabled Financial Services Call for Proposal from the Interledger Foundation (ILF).

    This is coming a few weeks after the company received Techstars’ backing. This latest partnership marks a groundbreaking endeavor to democratize cross-border payments, enabling financial access for users across the globe.

    It also further enhances the company’s mission to unlock economic opportunities for everyone, everywhere. Together with ILF, they plan to break down financial barriers, ensuring that financial services are a universal birthright.

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    Uchi Uchibeke, CEO of Chimoney, who expressed his optimism about the partnership said, “Our collaboration with the Interledger Foundation is a testament to our commitment to a more inclusive financial landscape. We look forward to exploring the possibilities this partnership brings and bringing Bank Accounts, Mobile Money, Airtime, and other payment options to the Interledger Ecosystem.”

    When asked about the partnership with Chimoney, Briana Marbury, the CEO and President of the Interledger Foundation also said they were excited to have awarded the ILP Financial Services grant to Uchi Uchibeke, founder of Chimoney.

    “Our partnership with Chimoney creates more opportunities to further the goals of global financial inclusion. We are also looking forward to Uchi speaking at our Interledger Summit this year in Costa Rica, where he and many other innovators in this space will share their insights.”

    In his talks, Uchi explained that the primary focus of this partnership is the integration of the Interledger Protocol (ILP) into Chimoney’s ecosystem. ILP, an open-source framework, offers a decentralized platform for frictionless cross-border transactions. This integration promises to simplify financial transactions across different blockchains and payment networks.

    “Chimoney’s integration of Rafiki capabilities into Chimoney Wallets further amplifies this vision, ensuring a seamless financial experience for users.”

    “The potential of this partnership is boundless. Interledger Protocol (ILP) could revolutionize cross-border payments, making them faster and more cost-effective. It could also pave the way for innovative financial solutions tailored to underserved communities.”

    In the end, Chimoney’s founder reiterated the organization’s commitment to unlocking economic opportunities for everyone, everywhere, and extended an invitation to organizations and individuals who share the company’s commitment to financial inclusion. Together, we are making financial services as accessible as sending an email, ensuring that financial inclusion becomes a reality for all.