Cambridge Global Payments, Steamchain: Shipping

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Cambridge Global Payments and Steamchain Corp., with their recently announced partnership, will aim to streamline the sending and receiving of payments for global shipping and logistics, according to a press release.

Cambridge offers cross-border solutions and currency risk management.

Steamchain, meanwhile, is a technology platform that aims to reduce currency conversion costs, the risk of currency fluctuation and heavy document flows, the press release said.

“We see a unique opportunity to partner with Steamchain and its pioneering payments technology,” said Don Banowetz, vice president of corporate sales at Cambridge Global Payments. “This partnership provides a unique offering for the shipping and logistics industry to leverage Cambridge’s comprehensive global delivery capabilities alongside the innovative Steamchain platform to move money around the world quickly and efficiently. “

Dan Biggs, CEO of Steamchain Corp., said the company is excited to partner with Cambridge Global Payments “because it aspires to lower the costs of any business doing international trade by simplifying the process of sending or receiving money. cross-border payments, with a cost effective, fast and intelligent solution, ”the statement said.

Global B2B commerce can be a thorny thing, with many cross-border rules and regulations, and B2B transactions traditionally go through specific payment systems for them.

The landscape will likely continue to change – there are hundreds of different payment methods out there, with around 300 that a merchant could reasonably consider must-haves.

According to Christophe Bourbier, CEO of Limonetik, one of the main considerations for a B2B market is the simplicity of payment, which is sometimes difficult to achieve due to the sheer volume of payment choices. But he said ease of use will be very important in terms of access to payment streams and new innovations to come.

Quagmire said B2B payments are an important consideration for companies looking to break into the global market.

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NEW PYMNTS DATA: FOCUS ON AI: THE BANK’S TECHNOLOGICAL ROADMAP

About the study: The AI ​​In Focus: The Bank Technology Roadmap is a research and interview report examining how banks are using artificial intelligence and other advanced IT systems to improve credit risk management and other aspects of their operations. The Playbook is based on a survey of 100 banking executives and is part of a larger series assessing the potential of AI in finance, healthcare and others.





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