Travelex ventures into B2B payments

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Travelex is rolling out a suite of B2B payment services through a new API-based platform and sandbox.

Travelex Business targets banks, merchants and fintechs looking to consolidate enterprise travel, B2B payments and foreign exchange services through a single channel, leveraging the company’s global cross-border connections.

The move comes a few years after entrepreneur B.R. Shetty bought Travelex, a 43-year-old London-based international currency exchange brand.

Shetty in 2018 established Finablr, a financial services holding company, to operate Travelex alongside UAE Exchange, another longtime foreign currency exchange operation based in Abu Dhabi.

Travelex Business’ services include Travel Business Cash, a white-label product for sending and receiving cash for travel or wholesale transactions; Travelex Business Pay, enabling fast transfers of large sums across borders; Travelex Business Cloud for dynamic currency conversions and Travelex Business Digital, a developer platform enabling partners to experiment or add Travelex Business services into their own products.

"Travelex Business ensures companies get to market quicker, increase revenues and boost customer value with agile services available at the click of a button,” said Gareth Williams, chief product and innovation officer at Finablr, in a release.

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B-to-B payments Cross border payments M&A Payment processing