AvidXchange Partners with Wise on Cross-Border Payments

US-based provider of accounts payable (AP) automation software and payment solutions, AvidXchange, has partnered with global payment technology company Wise.

This collaboration seeks to support international payment capabilities through AvidXchange's newly launched Cross-Border Payments solution. The two companies are reportedly dedicated to making their customers’ payments process more efficient regardless of country lines, as stated by the official press release.

The Head of Wise Platform declared that current systems reportedly don't allow businesses to easily send, spend, or receive money internationally. By partnering with AvidXchange, Wise has announced its desire to help businesses gain access to a faster, more cost-effective and improved way to manage finances with domestic and international suppliers in multiple currencies and countries. According to the press release, AvidXchange customers can reportedly save time and money with each transaction.

AvidXchange is a licenced money transmitter for US B2B payments, licenced as a Money Transmitter by the New York State Department of Financial Services, as well as all other states that require AvidXchange to have a licence. 

(Source: The Paypers)