New multi-currency accounts by corpay cross-border
Corpay Cross-Border introduces Multi-Currency Accounts, simplifying global business payments by allowing them to hold and manage multiple currencies. This streamlines transactions, cuts costs, and boosts efficiency.
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Nikita Alexander
- February 17, 2025
- 2 minutes
Corpay, a global leader in corporate payments, has launched a new solution to simplify international payments for businesses. The offering, Multi-Currency Accounts from Corpay Cross-Border, allows businesses to hold, manage, and exchange funds in multiple currencies, streamlining cross-border transactions and simplifying financial operations.
Tim Watson, Chief Product & Digital Innovation Officer at Corpay Cross-Border Solutions says, “After meticulous development that integrates our customers’ feedback and industry insights, our centralized account solution caters to the needs of businesses engaging in overseas markets across diverse jurisdictions and currencies. It streamlines account opening and management across multiple currencies and countries, simplifying complexity and allowing our customers to focus on their business first.”
With Corpay’s Multi-Currency Accounts, businesses can:
- Hold and manage funds in over 140 currencies.
- Make and receive payments in multiple currencies.
- Convert currencies at competitive exchange rates.
- Access real-time account balances and transaction history.
The Multi-Currency Accounts program was piloted with existing Corpay clients, and their feedback was incorporated into the final product.
“The development of Multi-Currency Accounts has been a collaborative effort with our customers,” says Mark Frey, Group President of Corpay Cross-Border Solutions. “Their feedback has been instrumental in ensuring we deliver a solution that truly meets their needs.”
Corpay’s Multi-Currency Accounts offer several key benefits:
- Competitive advantage: Businesses can simplify currency exchanges and minimize unnecessary conversions.
- Increased trust and security: Payors can send payments with confidence to a local currency account in the payee-business’s name.
- Simplicity and efficiency: Corpay provides a single point of access for managing all accounts, making accounting tasks easier.
- Round-the-clock online access: Businesses have 24/7 access to their accounts, enabling seamless global communication, multicurrency management, reporting, and reconciliation.
Corpay’s Multi-Currency Accounts will be a valuable tool for businesses looking to enhance efficiency in global trade.
