B2B payments platform TransferMate and AccountsIQ have announced further product integration to offer international payments for AccountsIQ clients.

As part of the feature, international payments can be generated directly within the AccountsIQ platform.

Gary Conroy, Chief Product Officer, TransferMate, said: “With a growing global customer base, more AccountsIQ users are calling out for a simpler, faster and more cost-effective foreign currency payments solution. We can now streamline the process of making FX payments from within the AccountsIQ platform.

“A key driver of TransferMate’s growth is deep strategic partnerships with accounting software providers. We are really excited to be working with AccountsIQ to bring this product to their customers.”

Improving payment options

Through the alliance, both fintechs aim to improve accounting and payment options for global businesses.

Additionally, customers only need to use one login to send FX payments from AccountIQ’s AP payment routines. The idea is to increase time saving as no manual reconciliation is required.

Darren Cran, Chief Operating Officer, AccountsIQ, said: “Our philosophy at AccountsIQ is to help ease the burden of processing transactions for finance teams while making an impact on their bottom line.

“We’re delighted that this partnership will help to save our clients both time and money by simplifying processes and reducing fees. By integrating TransferMate’s leading technology, we are fulfilling our mission to provide a comprehensive and innovative accounting and business intelligence platform.”

TransferMate can analyse AccountIQ’s users’ FX payments to estimate the savings that can be achieved before they sign up. This will make the signing up process simpler.

Furthermore, customers can carry out FX processing as part of a payment run directly from AccountsIQ.

In September, TransferMate collaborated with fintech Dwolla to facilitate international payments for its customers.

Under the partnership, Dwolla clients will gain access to TransferMate’s payments network across 162 countries and 134 currencies.