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NewProduct

ers, adding, "Flywire is a well-known and trusted entity
in the cross-border payments space, and our combined
strengths will allow for us to better serve both customer
bases."
Company: Flywire
Product: Global payments and receivables Following are examples Flywire provided of how its B2B
Website: www.flywire.com platform can solve B2B cross-border challenges:
Contact: support@flywire.com • Accelerate cash flow: Flywire's cross-border pro-
cessing services provide banks and processors with
Global payments and familiar transaction flows in their expected regional
formats and with all necessary identifiers. This makes

receivables it easier for both payers and receivers to reconcile pay-
ments, accelerating cash flow by improving speed and
transparency.
• Reduce costs: Improved cross-border payment ef-
lywire, a global payment solutions company, ficiencies can eliminate hidden fees and demystify
enhanced its technology suite with business- complicated, unpredictable foreign exchange rates
to-business (B2B) cross-border payment solu- that cost companies and individuals millions of dol-
F tions that leverage its processing platform. The lars in unnecessary fees.
solutions provide multilingual support and 24/7 online
payment tracking to support diversified payment meth- • Improve compliance: Flywire operates in multiple ju-
ods and currencies. Boston-based Flywire, established in risdictions, adhering to country-specific regulations
2011, has additional offices in the United Kingdom, China, and anti-money-laundering guidelines to reduce com-
Japan, Singapore, Australia and Spain, company represen- plexity, costs and restrictions.
tatives stated. • Improve reconciliation: Flywire can enhance inter-
national payment reconciliation by connecting all en-
"We have expanded our suite of products for a variety tities involved in cross-border transactions. This can
of commercial industries to help business enterprises enhance customer satisfaction while reducing opera-
tional costs caused by short payments, manual errors
identify transactions effectively as they scale their and lack of transparency.
global footprints," said Jason Moens, vice president, • Provide complete infrastructure: Flywire provides
product, at Flywire. "Businesses with domestic bill- businesses with out-of-the-box, compliant, cross-bor-
ing systems may process tens of billions in payments der infrastructure, enabling them to transact in mul-
but have little visibility into international payments." tiple countries and regions without needing to estab-
lish bank accounts, certifications and relationships in
For example, a Hong Kong bank without a direct relation- each country.
ship with a U.S. destination bank may have to use interim Simplify international payments, receivables
banks that pass funds while taking fees from a transac-
tion, Moens noted. Information may become truncated or Flywire's B2B platform can help eliminate the time, effort,
lost in flight even when payers correctly notate invoices, resources and capital investment typically associated with
line items and business names; reconciling of hundreds global, cross-border payment transactions, Moens said.
and thousands of these invoices, even with dedicated The platform addresses multiple issues and challenges,
teams, can rapidly become unmanageable, he said. enabling businesses of all sizes to tailor their payment
solutions according to specific industry and business
Partnerships drive innovation requirements. Merchants can adapt the platform to their

Moens pointed out that Flywire works with enterprise individual business models to securely and efficiently
clients and strategic partners to simplify international manage international receivables in a fully compliant
payments and receivables and offer competitive exchange manner, he stated.
rates for currency conversion and end-to-end support ser-
vices. Flywire partnered with Billtrust, a payment cycle "As companies expand globally, the payment needs of
management solutions provider, to facilitate cross-border cross-border clients may create gaps they are unable to
payments in an array of localized payment methods and fill," Moens said. "Flywire solutions can solve these chal-
currencies. The partnership has helped Billtrust custom- lenges." The service can benefit businesses that process in-
ers streamline efficiencies and expand into global mar- ternational payments over bank rails, he noted. Flywire's
kets, he said. global payments and receivables platform can be a timely
resource for organizations that invoice international cus-
Flint Lane, founder and CEO of Billtrust, described the tomers at regular intervals, whether weekly, monthly or
Flywire partnership as a "slam-dunk" for Billtrust custom- quarterly, in volumes ranging from $5,000 to as much as
$300,000 per month, he said.
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