Invapay, World First team on cross-border payments

Payment technology firm Invapay has teamed up with World First to allow clients making payments on its platform will be able to take advantage of purportedly favorable exchange rates and faster payments.

Invapay has integrated World First’s API into its payments platform, so customers have real-time visibility of exchange rates. Allied to the Cashflow and Treasury optimization features of its existing platform, it is expected to give greater control and flexibility to company finance and treasury departments.

“We identified a significant problem facing companies today and responded by developing a unique and exciting cutting edge solution which will bring huge and real benefits,: said Neil Radley, Director at Invapay.

“We are delighted to have worked with the World First team, who share our belief in minimising transaction costs, to develop this unique solution which will benefit the 84% of companies who are dissatisfied with their current processes and foreign exchange costs.”

Seth Harvey, Global Head of Partnerships at World First, commented: “We are delighted to be partnering with Invapay to offer a new solution that allows businesses to save money when making international payments. Invapay has demonstrated innovative thinking within the business to business payments space and our combined approach will offer companies a seamless service that removes the hassle of payments when trading internationally”.

A day following the Invapay-World First partnership, the CEOs of Invapay and Optal announced an agreement to sell Invapay to Optal,  a provider of Mastercard payment products.

“The acquisition of Invapay enables Optal to deliver a one-stop-shop for corporate B2B payables needs. Combined with our existing highly successful virtual payment solutions including virtual account numbers or VANs, Invapay completes our product offering, enabling us to offer genuine ‘pay anyone, anywhere’ capabilities,” said Optal CEO Rob Bishop.