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June 21, 2022

PracBiz taps Corpay for cross-border and foreign currency exchange solutions

PracBiz, the owner and operator of the B2B digital supply chain platform, PracBiz Exchange (PBX), has joined forces with US-based AP payment solutions provider Corpay.

As part of the tie-up, Corpay will offer its solutions to over 4,000 B2B suppliers on the PBX platform located across APAC to help them mitigate foreign exchange exposure for their business needs.

In addition, PBX members will be able to manage their global payments from a single point of access via Corpay’s trading platform.

Corpay Cross-Border Solutions APAC managing director David Britten said: “We’re incredibly excited about our new partnership with PracBiz. I am confident that companies that utilise the PBX platform will benefit from access to Corpay’s comprehensive cross-border payments and currency risk management solutions, along with our high-quality customer service.

“Our team looks forward to helping businesses on the PBX platform power their global payments, execute plans to manage their currency risk and support their growth around the world.”

Corpay enables companies to track, manage and pay their expenses. Its suite of online payment solutions includes bill payment, AP automation, cross-Border payments, currency risk management, and commercial card programmes.

PracBiz founder and Group CEO Neo Teck Hoe said that the partnership with Corpay will enable the PBX members to manage their cross-border business more strategically.

Hoe added: “In addition to being able to execute their cross-border payments in a more cost effective and efficient manner through Corpay, our clients will also be able to leverage innovative solutions like Cross Border BNPL, made possible because of the rich data available on the PracBiz platform.”

This February, Corpay teamed up with cloud platform Esker to launch a business payment offering in North America.

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