Boost Payment Solutions has joined forces with Irish firm TransferMate, integrating its payment solution, Boost 100XB, with the latter’s payments infrastructure.
This collaboration is aimed at enhancing cross-border payments and increase commercial card usage and adoption.
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Boost 100XB is designed to streamline international transactions for buyers, allowing financial institutions and programme managers who issue commercial cards on US-based BINs to extend their programmes into cross-border payments.
The solution is part of Boost 100 that leverages a two-step payment process, initiating transactions on card rails and settling them through various payment methods and currencies to meet suppliers’ needs.
The partnership integrates Boost 100XB’s transactional capabilities with TransferMate’s focus on regulatory compliance and security across its extensive global payments network.
TransferMate’s licensing network will provide Boost customers with access to payment licensing for over 200 countries in North America, Europe, Asia, and more, supporting transactions in more than 140 currencies.
Boost Payment Solutions CEO and founder Dean M. Leavitt said: “This strategic partnership with TransferMate further supports Boost’s mission to streamline and modernise B2B payments globally.
“By combining our expertise in commercial card optimisation with TransferMate’s robust global payout infrastructure, we’re creating a more powerful, seamless payment experience while maintaining the highest levels of regulatory compliance and security that our customers expect.”
Leavitt added: “Furthermore, it levels the playing field among those commercial card issuers that can issue cards globally and those that cannot.”
TransferMate CEO Sinead Fitzmaurice stated: “Our embedded payments infrastructure – a network operating right across the globe – will bring significant value-add to Boost and their clients. Together, we’re going to make it easier for businesses to pay internationally, within a secure and regulated framework.”
In October 2024, Boost partnered with American Express to offer commercial virtual card processing services to US merchants accepting American Express.
Qualified merchants have access to Boost Intercept, Boost’s patented straight-through processing (STP) tool.
