Sydney, AUS (8 April 2024) – Corpay*, a global leader in business payments, and Octet, a tech-enabled business lender that focuses on financing the full supply chain, are pleased to announce a new collaboration between Corpay’s Cross-Border business and Octet.
Through this collaboration, Octet and their business customers will have the opportunity to gain access to and utilise Corpay’s innovative hedging tools that can help clients mitigate their exposure to foreign exchange risk.^ Additionally, Corpay Cross-Border’s award-winning platform will enable them to manage their global payments from a single point of access.
Recognising the challenge of maintaining consistent cash flow for businesses, Octet provides both a strong alternative and complimentary funding solution to traditional banks. Corpay Cross-Border customers will have access to Octet’s innovative trade finance, debtor finance and digital wallet solutions.
“We are thrilled to welcome Octet into our partnership network and to offer trade finance and other working capital solutions to Corpay clients. We believe our partnership will bring immense value to Octet customers who seek enhanced efficiency in payment processes and expert management of FX exposure throughout the entire supply chain,” says David Britten, Managing Director APAC at Corpay Cross-Border. “Our comprehensive cross-border payments and currency risk management solutions will empower businesses in Australia to seamlessly navigate cross-border payments, strategically address currency risk, and help drive their global business expansion aspirations.”
Octet’s Co-CEO, Brett Isenberg added: “Corpay are a very significant player in the Australian and global business payments landscape, who we’re extremely proud to partner with. This collaboration is exciting for Octet in that it gives us the opportunity to work with Corpay and their expansive Australian client base in finding innovative working capital solutions to meet their evolving cash flow challenges. When you consider the current turbulent economic conditions and subsequent restricted funding appetite from the big banks, the opportunity is amplified. Equally, we’re excited to have a strategic partner who possesses significant experience in offering bespoke risk management FX solutions.”
About Corpay
Corpay (NYSE: CPAY) is a global S&P500 corporate payments company that helps businesses and consumers pay expenses in a simple, controlled manner. Corpay’s suite of modern payment solutions help its customers better manage vehicle-related expenses (such as fueling and parking), travel expenses (e.g. hotel bookings) and payables (e.g. paying vendors). This results in our customers saving time and ultimately spending less.
Global businesses and institutions trust our Corpay Cross-Border solutions to power their international payments, execute plans to manage their currency risk and support their growth around the world. We aim to deliver unmatched service and expertise with respect to moving money globally.
Corpay – Payments made easy. To learn more visit www.corpay.com.
About Octet
Specialising in providing innovative supply chain finance and payments solutions to Australian businesses and their local and global trading partners, Octet’s vision is to connect and grow the world’s businesses.
Established in 2008, Octet has powered the growth of over 200,000 businesses via intelligent Trade Finance, Debtor Finance and other working capital solutions. To learn more visit www.octet.com
Corpay Contact:
Brad Loder | VP, Cross-Border Marketing
+1 (647) 627-6635 | brad.loder@corpay.com
Octet Contact:
Duncan Khoury | Head of Marketing
+61 421 700 783 | dkhoury@octet.com
*“Corpay” in this document primarily refers to the Cross-Border Division of Corpay https://www.corpay.com/cross-border; a full listing of the companies that are part of the Corpay brand is available here: https://www.corpay.com/compliance.
^ Subject to credit and compliance approval from the relevant Corpay company.
