Centiglobe, Zimpler to improve cross-border payment solutions

Sweden-based Distributed Ledger Technology (DLT) cross-border payment solutions provider Centiglobe has partnered with fintech company Zimpler

Sweden-based Distributed Ledger Technology (DLT) cross-border payment solutions provider Centiglobe has partnered with fintech company Zimpler . The collaboration represents the first initiative that strives to facilitate the digitalisation and automation of cross-border factoring between the EU and Sweden.

As a result of this joint effort, the two companies will enable businesses to boost their cross-border payment capabilities by making them more predictable, instant, automated, and globally secure. This is expected to unlock business value, cater to customer demand, and increase operational efficiency. To achieve this, the companies plan to leverage Zimpler’s instant payment capabilities, its access to local accounts, and Centiglobe’s payment rails.

This is expected to result in the development of solutions that address specific segments, like cross-border factoring and other, broader cross-border payment capabilities. The already mentioned cross-border factoring solution is set to launch in September 2023. This offering will allow factoring companies to automate payments, collections, foreign exchange, funding, and reconciliation processes.

This will eliminate manual routines and automate treasury operations. The solution's web interface includes a ‘plug & play’ feature that gives access to local accounts for collection and instant payouts. The broader context When it comes to the wider context that made this possible, it should be noted that this is not the first cross-border payments-related product that Zimpler has announced this year.

In May 2023, the Sweden-based fintech revealed an instant cross-border payouts offering through SEPA (Single Euro Payments Area). The payouts product enables Zimpler customers to instantly send EUR to all 20 Eurozone countries through SEPA, without any hidden fees or complex administrative work. As outlined in the official press release, the new partnership comes to build on this previous launch.

To this point, the collaboration between Zimpler and Centiglobe aims to boost Zimpler’s cross-border payments capabilities and enable global instant payouts. Officials from both Zimpler and Centiglobe stated in the official release that this solution comes to tackle the challenge that companies face when managing cross-border transactions. Zimpler’s representatives further added that the collaboration broadens its B2B segment offering and that it extends its portfolio of services.

Centiglobe is a cross-border payment solutions provider. Its payments transaction platform is designed to help businesses transform payments – which ultimately reportedly results in reduced risk, and instant, predictable, and secure transfer of value and data for banks, payment institutes, and companies. Zimpler is a financial solutions scaleup that facilitates business via fast payments, and financial compliance.

When it comes to the company’s overall aim, Zimpler purportedly strives to democratise payments and enable growth opportunities for businesses worldwide. .

Sep 26, 2023 13:46
Original link