Businesses Back Travelex Over Mega-Banks in Cross-Border PaymentsBy Travelex Global Business Payments, PRNE
Tuesday, November 2, 2010
Travelex Global Business Payments Rated Industry Leader after Launch of new GEO Platform
LONDON, November 3, 2010 - Travelex Global Business 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 Japan's leading
online marketplace, Rakuten at Sibos 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 David Sear, Divisional Managing Director at Travelex
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."
Steve Murphy, research director at TowerGroup added, "Travelex Global
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 +
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: United
States, Canada, Australia, United Kingdom, and France. The assessment
addressed the current 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
www.travelexbusiness.com/na. In the United States, services are
provided by Travelex Global Business Payments, Inc. or Travelex Currency
Services, Inc. In Canada, services are provided by 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
Media Contacts: Caroline Parker / Rob Arnott, FD, +44(0)20-7269-7295 / +44(0)20-3077-0404, Caroline.Parker at fd.com / Rob.Arnott at fd.com
Tags: London, November 3, Travelex Global Business Payments, United Kingdom