Chimoney and Corpay Collaborate to Revolutionize Global Payouts: Connecting 130+ Countries with Seamless Payment Solutions

Toronto, Jan. 11, 2024 (GLOBE NEWSWIRE) --

Chimoney¹, a Toronto-based global payment solutions provider on a mission to connect all payment systems in the world, has entered into a new collaboration with Corpay², a FLEETCOR® (NYSE: FLT) brand and global leader in business payments ? a partnership that is planning for unsurpassed financial inclusion and economic empowerment. This collaboration is poised to reshape the landscape of cross-border transactions and global payouts through the integration of Corpay's innovative solutions with Chimoney to enhance Chimoney's service, enabling cash-out to Bank Accounts in more countries to complement Chimoney's offering of cash-out to Bank Accounts, Mobile Money, Airtime, and Gift Cards.

Through this collaboration, Chimoney's customers^* will be able to gain access to and utilize Corpay's Cross-Border's innovative solutions to help Chimoney mitigate foreign exchange exposure risk as it enables businesses to pay anyone in the world using just an email, phone number, and social media username. Additionally, with Corpay's award-winning trading platform, Chimoney's customers can now effortlessly access payouts to more countries and currencies.

"Corpay is very pleased to announce our commercial partnership with Chimoney. I have no doubt that Chimoney's customer base can benefit greatly from our specialized service and access to our comprehensive cross-border payments and currency risk management solutions." said Frank Mannarino, Vice President and head of Channels and alliances, at Corpay Cross-Border Solutions. "The team at Corpay is excited to build long-term business partnerships with customers and power their international payments, help them execute their plans to manage their currency risk, and support their growth internationally."

Chimoney's vision for Global Payments is to connect all Payment networks, currencies, and rails globally to enable people everywhere to simply get paid with minimal complexity. By working with partners like Corpay, Chimoney can ensure compliance with local regulations and leverage Partner expertise to help manage foreign exchange risks, drastically reducing foreign exchange and regulatory risks for its users and corporate clients.

"As Chimoney's mission has always been to unlock economic opportunities globally, this collaboration with Corpay amplifies our vision of creating seamless access to more payout options and countries. With Corpay's expertise and platform, we are poised to offer our customers access to a more expansive and efficient payout ecosystem. This is not just a partnership; it's a synergy where innovation meets scale. For businesses and partners, it's clear: Chimoney is setting new standards in fintech, constantly pushing boundaries, and striving for excellence," added Uchi Uchibeke, Founder and CEO of Chimoney.

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About Chimoney: Chimoney, a visionary in financial technology, offers businesses next-gen global payout solutions that are unmatched in their scope and efficiency. With payout support now in 100+ countries, Chimoney's platform offers a seamless blend of efficiency, scalability, and reliability. Their recent strides in integrating technologies like the Interledger Protocol have positioned them as one of the most sought-after fintechs for investment and partnership opportunities. Chimoney's commitment to financial inclusion, economic empowerment, and a frictionless payout experience makes it a standout in the fintech space. To learn more, visit www.chimoney.io.

About Corpay: Corpay is a global leader in business payments, helping companies of all sizes better track, manage and pay their expenses. Corpay provides customers with a comprehensive suite of online payment solutions including Bill Payment, AP Automation, Cross-Border Payments, Currency Risk Management, and Commercial Card Programs. Corpay is a part of the FLEETCOR (NYSE: FLT) portfolio of brands. To learn more, visit www.corpay.com.

¹"Chimoney" is a tradename of Chi Technologies Inc., a federal-Canadian corporation (based in Toronto) registered as an MSB with FinTrac.
²"Corpay" (a Fleetcor (NYSE: FLT) brand) in this document primarily refers to the Cross-Border Division of Corpay www.corpay.com/cross-border; a full listing of the companies that are part of the Corpay brand is available at www.corpay.com/compliance.

^*Subject to credit and compliance approval from the relevant Corpay company.