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Travelex Launches New Payment File Transfer Solution

Travelex Global Business Payments, a provider of international payments and foreign exchange solutions, has launched a new payment file transfer solution called Travelex fx360 to enable its corporate clients and partners process payments automatically.

According to the company, the new solution will allow businesses of any size to upload a single file of multiple types of payments directly into the payment processing system and then have the file reconcile back into their accounting or enterprise resource planning (ERP) system.

Travelex fx360 accepts and processes payment files in a variety of formats and converts the files into one format for all payment types – wires, drafts, domestic, international, and multi-currency – using an advanced file mapping technology.

Adam Tiberi, senior vice president of global product management at Travelex, said: “Travelex fx360 enables the replacement of an entire network with a single, flexible interface that processes several payment types and currencies from multiple banks and many clients have already taken full advantage of this leading edge payment processing technology.

“It completely eliminates a client’s dependency on costly IT resources and significantly reduces the time it takes the IT team to format payment files to a proprietary bank interface, which in turn increases productivity.”