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.