Cambridge Global Payments Announces New Partnership with Steamchain Corp.

Rhea-AI Summary

Cambridge Global Payments, a FLEETCOR company (NYSE: FLT), has partnered with Steamchain Corp. to enhance payment solutions for the global shipping and logistics sectors. This collaboration aims to reduce currency conversion costs, mitigate currency fluctuation risks, and streamline document flow. With Steamchain's innovative platform and Cambridge's extensive global payment services, they plan to offer businesses a fast and efficient way to manage international payments. This partnership is expected to benefit companies engaged in cross-border commerce.

Positive

• Partnership aims to simplify cross-border payments for shipping and logistics industries.
• Combines Cambridge's extensive global payment capabilities with Steamchain's innovative platform.
• Focus on reducing costs and risks associated with currency conversion and fluctuation.

Negative

• None.

Cambridge Global Payments (“Cambridge”), a FLEETCOR company (NYSE: FLT) and a provider of integrated cross-border payments and currency risk management solutions, and Steamchain Corp. (“Steamchain”), a technology platform focused on helping to reduce the cost of currency conversion, currency fluctuation risk and cumbersome document flow, are pleased to announce they have partnered to bring a tailored solution to help companies in the global shipping and logistics industries, simplify sending and receiving payments with their global partners.

“We see a unique opportunity to partner with Steamchain and their forward-thinking payments technology,” said Don Banowetz, Vice President, Enterprise Sales at Cambridge Global Payments. “This partnership delivers a unique offering for the shipping and logistics industry to leverage Cambridge’s comprehensive globally delivery capabilities alongside Steamchain’s innovative platform to move money around the world fast and efficiently.”

“Steamchain Corp. is excited to partner with Cambridge Global Payments as it aspires to bring reduced costs to any company conducting international commerce by simplifying the process of sending or receiving cross-border payments, with a cost effective, fast and smart solution,” said Dan Biggs, CEO Steamchain Corp.

About Cambridge Global Payments

Cambridge Global Payments¹, a FLEETCOR company, is a provider of integrated cross-border payment services and currency risk management solutions. As a trusted partner for more than 25 years, Cambridge delivers innovative solutions designed to mitigate foreign exchange exposure and address unique business needs. Our award-winning capabilities and industry-leading technologies simplify the way businesses connect with the global marketplace. As one of the largest bank-independent providers globally, we are flexible and responsive, with offices and applicable licensing and regulatory approvals across North America, Europe, and Australia. Learn more at cambridgefx.com and follow us on Twitter and LinkedIn.

About Steamchain Corp.

Steamchain Corp, a United States based Financial-Technology company founded in 2018 has created a user controlled secure Platform that simplifies global B2B payments for any company conducting international commerce. Employing four disruptive FinTech technology Patents, the Platform helps enable clients to save money on currency conversion costs, potentially reduce currency fluctuation risk impact and is designed to improve antiquated paper flow efficiencies while facilitating companies making or receiving payments in over 145 local country currencies of choice. The traditional financial institution processes for global payments can be improved and Steamchain Corp is here to help solve that.

¹Cambridge Global Payments is the trade name of various corporations in the Cambridge group of companies including Cambridge Mercantile Corp., Cambridge Mercantile Corp. (U.S.A.), Cambridge Mercantile Corp. (UK) Limited and Cambridge Mercantile (Australia) Pty. Ltd.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210629005002/en/

FAQ

What is the partnership between Cambridge Global Payments and Steamchain Corp. about?

The partnership focuses on enhancing cross-border payment solutions for the shipping and logistics industries, aiming to reduce currency conversion costs and risks.

What company is FLT in relation to Cambridge Global Payments?

FLT is a stock symbol for FLEETCOR, the parent company of Cambridge Global Payments.

How will the partnership benefit companies involved in international commerce?

The partnership will provide streamlined payment processes, reducing costs and risks for companies conducting cross-border transactions.

When was the partnership between Cambridge and Steamchain announced?

The partnership was announced on June 29, 2021.