SOURCE: Cambridge Global Payments

Cambridge Global Payments

SOURCE: XTRM

XTRM

April 27, 2016 10:04 ET

Cambridge Global Payments and XTRM Team Up to Provide Local Currency Payments for Performance Incentive Programs

Enterprises Can Now Incentivize Global Teams With Local Currency

TORONTO, ON--(Marketwired - April 27, 2016) - Cambridge Global Payments, a leading provider of integrated cross-border payment services and risk management solutions, is pleased to announce their strategic partnership with XTRM, a leader in global incentive payment services, to provide businesses with a cost-effective, streamlined cross-border payment solution that delivers performance payments in over 170+ countries.

As organizations compete to attract top talent and drive business growth, incentive and bonus plans have become a crucial aspect of their compensation and rewards offerings. A recent Deloitte study found that 99% of respondents reported having a short-term incentive program, with a further 88% indicating they have a long-term program in place.

"Incentivizing a global workforce is key to sustainable business growth for many of our customers," said Richard Grogan-Cane, President & Chief Executive Officer of XTRM. "Our new partnership with Cambridge will give our customers the ability to deliver timely and accurate rewards in local currencies which enhances our mandate of providing any payout type, anywhere in the world."

This strategic partnership will allow a flexible and efficient payout method to team members all over the world. The integration of Cambridge's payments technology and XTRM's global incentive payments means that local currency delivery includes upfront real-time foreign exchange rates.

"We are excited to work with XTRM to provide accurate data and payment routing validation on the countries they deliver incentives to. This will undoubtedly mean incentivized enterprises and their sales teams will receive their payments in a more timely fashion and with reduced rates of return," said Corinne MacMillan, Chief Technology Officer of Cambridge Global Payments. "The Cambridge and XTRM integrated solution will ensure customers get the best rates when converting funds into their global employees' local currency."

About Cambridge Global Payments
Cambridge Global Payments is a leading provider of integrated cross-border payment services and risk management solutions. As a trusted partner for over 20 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 across North America, Europe, and Australia. Learn more at cambridgefx.com and follow us on Twitter and LinkedIn.

About XTRM
XTRM is a powerful global rewards payment platform allowing companies of all sizes to easily manage the payout process for sales channel performance and incentive payouts, claims and rebates. XTRM provides a single integration entry point to allow the broadest choice of payout options such as EFT, Wire, VISA Debit Cards, Virtual Visa, Paypal, Coupons, Gift Cards and ECash to reward recipients, all for one simple 'pay as you go' ​fee. XTRM allows you to reward at both the partner and individual level anywhere in the world, including ensuring complete tax and security compliance and adherence to all financial and legal regulatory requirements such as SOX compliance. Tax management includes services such as US 1099 submission and more. Check out XTRM facts at https://www.xtrm.com/web/AboutUs.aspx.

Contact Information

  • For further information, please contact:

    Kristina Lee
    Magnolia Marketing Communications
    Phone: +1 (778) 999-8562
    Email: klee@magnoliamc.com

    XTRM Inc.
    Phone: +1 (866) 367-9289
    Email: pr@xtrm.com