Cambridge Global Payments Announces New Partnership with Western Equipment Dealers Association

Rhea-AI Summary

Cambridge Global Payments, a FLEETCOR company (NYSE: FLT), has been named the endorsed provider of foreign currency exchange and international payment solutions by the Western Equipment Dealers Association (WEDA), North America's largest equipment dealer association. This partnership grants access to over 2,000 WEDA members to Cambridge's innovative solutions, helping them mitigate foreign exchange risks and manage global payments efficiently. Mark Frey, President of Cambridge, emphasizes the value of their services in enhancing members' business growth.

Positive

• Selected as the endorsed provider for WEDA, boosting brand visibility.
• Access for over 2,000 members to Cambridge's currency solutions, potentially increasing revenue.
• Partnership could lead to cost savings for members on currency transactions.

Negative

• None.

Cambridge Global Payments (“Cambridge”), a FLEETCOR company (NYSE: FLT) and a provider of integrated cross-border payments and currency risk management solutions, is pleased to announce they have been selected by the Western Equipment Dealers Association (“WEDA”), the largest equipment dealer association in North America, as the endorsed and preferred provider of foreign currency exchange and international payments solutions for WEDA members across North America.

Through this partnership, WEDA’s 2,000+ members and their companies*, will be able to gain access to and utilize Cambridge’s innovative solutions to help mitigate foreign exchange exposure for their day-to-day business needs in order to help them meet their stated financial goals. Additionally, Cambridge’s award-winning trading platform will enable WEDA’s members to manage their global payments from a single point of access.

“Cambridge is honored to become an endorsed provider with WEDA, a highly regarded association that advocates for North American agriculture, industrial, forestry and outdoor equipment dealers. I am confident that their members located across Canada and the U.S. will benefit from access to our innovative cross-border payments and currency hedging solutions, along with our experience gained in this sector” said Mark Frey, President, Cambridge Global Payments. “Our team members across North America look forward to sharing our experience and helping WEDA members grow their businesses globally.”

“Currency transactions and working with foreign suppliers is regular occurrence for many of our equipment dealer members. But getting a competitive rate and a suitable product is perhaps overlooked at times. This partnership with Cambridge is another way dealers may benefit from their membership with potential savings on these common transactions” said John Schmeiser, CEO, Western Equipment Dealers Association.

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 Western Equipment Dealers Association

WEDA represents over 2,000 farm, industrial and outdoor power equipment dealers in every Canadian province with the exception of Quebec – as well as nine states in the U.S. – Alaska, Idaho, Kansas, Missouri, New Mexico, Oklahoma, Oregon, Texas, and Washington. WEDA also represents 1,250 U.S. hardware retailers in the same U.S. states plus Arkansas, Louisiana, and Nebraska. As the largest equipment dealer association in North America and the largest regional trade association of its kind in North America, WEDA offers members a comprehensive array of dealer-oriented legislative, educational, and communications services, ranging from lobbying to legal, and accounting and marketing support. WEDA also provides products and services that include industry and manufacturer relations, as well as industry information and intelligence. The Association’s many programs are either available only to members or provided at a reduced cost for members. Visit www.westerneda.com for more information.

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.

*Subject to Cambridge Global Payments credit and compliance approval.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20210608005649/en/

FAQ

What is the significance of Cambridge being selected by WEDA?

Cambridge's selection as WEDA's endorsed provider enhances its market presence and offers significant benefits to over 2,000 members through enhanced currency solutions.

How many members does WEDA have?

WEDA represents over 2,000 equipment dealer members across North America.

What services will Cambridge provide to WEDA members?

Cambridge will offer foreign currency exchange and international payment solutions to help WEDA members manage currency risks.

What company owns Cambridge Global Payments?

Cambridge Global Payments is a subsidiary of FLEETCOR.

What is Cambridge's stock symbol?

The stock symbol for FLEETCOR, the parent company of Cambridge, is FLT.