TRAVELEX GLOBALPAY. Managing all your payment needs online

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1 TRAVELEX GLOBALPAY Managing all your payment needs online

2 SIMPLIFYING THE PAYMENTS PROCESS At Travelex we believe in making the payments process simple, fast and accurate which is why we have introduced a unique payments solution for businesses. Whether you are making every day payments to suppliers, processing payroll, paying dividends, paying claims or receiving incoming funds from anywhere in the world we can help. Our unique system, Travelex GlobalPay, is an intuitive online payments platform that integrates seamlessly with your back end accounting or ERP system and has been specifically designed to improve the efficiency of your payment processing. It is also an effective supplier management system, helping you to manage your suppliers or any beneficiary with minimum effort. Payee Manager is a web based enrollment and vendor management system designed to make it easy for you to pay your suppliers via electronic payments. Each supplier can update their bank details via a secure website which then prompts you for approval, so you can be assured that all beneficiary details are up to date while maintaining security. Reducing the costs and risks associated with payments GlobalPay offers unique functionality that enables you to manage all types of business payments, incoming and outgoing, domestic and international, and supports most payment types. You can also take advantage of low cost payment options as well as incoming checks and wires. At a glance, GlobalPay allows you to proactively manage your upcoming payments and your currency exposure. On a single screen you can see your incoming and outgoing payments across all currencies, allowing you to make decisions about your cash flow and currency exposures quickly and easily. Our Holding Balance functionality also means you can avoid having to maintain costly foreign currency accounts and constantly convert foreign currencies back into your home currency. With GlobalPay you can also have complete visibility of your costs and fees so you know exactly how much the transaction has cost, unlike most banks where this information 1

3 is only available on receipt of your statement. Least cost routing and faster payment methods are all supported and you can select the type of payment and settlement methods you prefer. There s no need to change or modify any banking relationships as the system allows you to settle from multiple bank accounts, in all major currencies. Reduce errors and track payments easily GlobalPay has simple tools to help you eliminate manual errors while inputting payments; the Find a Bank tool will help you locate banking details by simply entering keywords. This tool will locate the correct banking codes and identification numbers to ensure your payments get through on time, every time. That s not all. Our simple tracking tool enables you and your beneficiaries to track and trace your payments through the process, so you can see instantly where your payment is and its status. GlobalPay also automatically s your beneficiary once a payment is released to them so you have fewer chaser calls. The system has been engineered to the highest security levels, so you can be assured your payments are protected and secure at all times. Authorised users can access the system via a single secure sign on from any location with internet access. GlobalPay also offers enhanced security through SSL encryption, digital certificates and approval models that are customised to your needs. Unique Benefits A single interface makes the whole payment process more straightforward Eliminates the need for multiple foreign currency accounts Simple implementation as it integrates very easily with your own accounting system Easy upload of payment files Automatic reconciliation of payments back into your accounting system or via a simple return file with all the remittance data Track and trace features so you can see where your payments are Reduces supplier enquiries and chasing calls as beneficiary notification s are automatically sent when a payment is released Proactive error prevention tools Global payments specialists in each region Beneficiary self management system Payee Manager Multiple languages are supported Helpdesk and IT support are locally based Global platform supporting 130+ currencies No need to change banking partners 2

4 WHAT IS GLOBALPAY? GlobalPay is a secure web based payments service that is easily integrated with your accounting system and allows you to manage all of your business payments via a single interface. GlobalPay enables you to make and receive payments from all over the world without affecting your banking relationships. GlobalPay has many features which are all accessible from the top navigation bar on every screen. Pay Today to make payments or schedule a payment for the future Incoming Funds to schedule incoming receipts Cash Management to make payments up to a year in advance Pending Orders to see what payments are waiting authorisation R e p o r t s see detailed reports of payments Beneficiaries managing beneficiary information Configure set your preferences Payment upload upload bulk files Investigations manage any investigations Manual E-Debit enabling you to control the release of payments 3

5 MAKING A PAYMENT Travelex GlobalPay offers numerous options for making payments. Quickly enter and send a small volume of payments via the single screen interface, or take advantage of our file upload feature and submit hundreds of payments with the click of a button. Delivery can be made in the form of wires, drafts, or through our global network as low-value domestic electronic payments, giving you the flexibility to pay internationally at a much lower cost than sending wire payments Making one-off payments With Pay Today, you can send payments to practically anywhere in the world and in virtually any currency whether it s a local, domestic payment or an international payment in an exotic currency. This feature provides a simple grid-entry form and you can enter up to 20 line items per page. If you have saved your beneficiary s information, either in a previous order or by having our staff upload your beneficiary (payee) information, GlobalPay extracts the beneficiary s name, address, payment currency, and banking information from our secure database. There is no need to re-enter that information with each order, you just select the beneficiary from the beneficiary drop-down list. The grid-entry form above is for a Canadian or U.S. client who settles (pays us) in USD. If you were a Canadian firm paying in CAD, the right-most amount column would read CAD Amount. If ordering a payment to a foreign beneficiary, GlobalPay would know the target currency from the information you previously saved. If you put in an amount in the Payee Amount column, it is the amount in terms of the foreign currency. 4

6 MAKING A PAYMENT Example (see right): A UK company sends you an invoice for 100,000 Sterling. You would enter 100,000 in the Payee Amount column. Clicking Submit and Quote provides you with a current USD/GBP (settlement currency/target currency) quote and displays the total cost of the payment. The Pay Today service also has separate entry forms for Quick EFTs ( wires ) and drafts. These forms are for ad-hoc beneficiaries, that is, for those payees for whom you have not saved their information. You have the option of saving the information you enter through these forms. All our payment order services offer the choice between grid-entry forms for pre-existing beneficiaries stored in GlobalPay, or quick entries for EFTs and, where available, drafts and ACH credits. *Rates and fees shown here are for illustrative purposes only. As with all GlobalPay services, you see the actual rates and costs before you decide to commit an order. 5

7 MAKING A PAYMENT Uploading bulk payments Entering payments and other orders into forms works well for a limited number of orders. For organisations sending hundreds or thousands of payments a month, GlobalPay has our file upload service for bulk uploading of up to 1000 payments per file. File upload enables straight through processing from your ERP or accounting system, with orders from your accounts payable department, to return files to your accounts receivables department. It can access pre-stored information so you don t need to re-enter and transmit your beneficiary s (payee s) name, address, or banking information when placing a payment order. Once uploaded, your staff can review and, if need be, modify each order before committing the order. 6

8 MAKING A PAYMENT Constantly updated GlobalPay is fully up to date with current payment types and all message formatting instructions for the various payment methods. It also validates your orders against all the rules governing payments and our processing platform transmits or prints payment orders in the required formats with the required information. When entering beneficiary information, GlobalPay s Find A Bank service makes it easy to provide accurate bank name, address, and SWIFT or routing code information. While most client orders are in major trading currencies, with GlobalPay you can buy, sell or temporarily hold funds in over 130 currencies. For EFTs, value dates (date your beneficiary s bank account is credited) can be as soon as the next day or up to two days. Value dates may be longer where you are making payments to smaller or more remote financial institutions requiring an intermediate bank for payment routing. 7

9 RECEIVING FUNDS FROM ABROAD GlobalPay s incoming funds services enable you to accept payments from customers worldwide without the hassle of maintaining multiple foreign currency bank accounts. Whether sending payments in foreign currencies, or receiving incoming funds, we leverage our own network of accounts in banks worldwide so you don t have to. Our incoming funds services also enable you to receive a domestic ACH payment where available. For example, an Australian customer can send an ACH payment to you in Australian dollars (AUD) via a Travelex account in Australia. Upon receipt, the funds are held for you in a Holding Balance in AUD until you instruct us how you want to utilise these funds. You can make payments from the Holding Balance in AUD to payees in Australia, or convert the AUD to your settlement currency or some other currency, and receive the funds. *Clients can maintain Holding Balances for up to 90 days, except for in Poland and the Czech Republic. 8

10 CASH MANAGEMENT AND PLANNING FUTURE PAYMENTS GlobalPay s services include methods for handling your Cash Management requirements for up to a year in advance. Plan future payments by purchasing foreign currency funds now for a date within a specified date or range of dates (window) for the release of the payment in the future, and lock in the current exchange rate. You can schedule the payment of foreign currency funds, including to yourself, out of a Holding Balance you have with us. Purchase foreign exchange now for future use with our Buy into Holding service. You can hold funds with us for up to 90 days, making partial or full use of these funds at any time. From incoming funds, you can also schedule payments to other beneficiaries. 9

11 PAYMENT TOOLS In addition to handling incoming and outgoing payments, GlobalPay offers a number of tools that further simplify your payment process. Use our currency tracker services to monitor the market, and pay tracker to track payments like you would a package. Our Payee Manager service is an online interface that can be accessed by both you and your payees for secure and efficient vendor management. These are just a few of the additional tools available as a Travelex client and GlobalPay user. Pay tracker Pay tracker is a unique facility within GlobalPay that enables you to track payments and easily view the status of payments in the system. You can set preferences in the system so that you and your beneficiaries retrieve notifications once payments are released. 10

12 PAYMENT TOOLS Currency tracker If you want to make a significant payment in a foreign currency, or purchase foreign currency for expected future requirements, but believe that market conditions may change you can keep track of currency movements with GlobalPay. Our MarketLink service and currency tracker lets you set an exchange rate between your target currency and a reference currency (such as the Canadian or U.S. dollar). Travelex GlobalPay will notify you, at a frequency you set, should that rate be reached or crossed. Message Center The Message Center is your GlobalPay electronic bulletin board and the place where we keep you posted on events associated with the processing of your orders. The Message Center also offers a quick route to view or modify all your pending orders. Through GlobalPay, you are able to choose the events for which you want timely notifications. Certain event notifications are available as messages. For example, when we release an order, GlobalPay can send you and your beneficiary notification so you are up to date with payment status. Your staff will no longer be tied up with inquiries about payments as our online investigations service means that you can track an order s status whenever you want. Detailed reporting options With Travelex GlobalPay s reports services, you can download reports of your transactions, pending payments, beneficiaries, and more. We keep all this information online, readily available to you. Payee Manager Within GlobalPay you have a unique vendor management system called Payee Manager that stores all of your beneficiary details and banking information securely. Payee Manager is also designed so your beneficiaries can update their details when they needto via a secure login and approval process. If one of your beneficiaries logs in to amend their bank account details, this automatically sends you an asking you to approve the change before it is accepted. Once you have approved the change, the system will update the information. Best of all, this information is held within a database that you can export at any time, unlike most banking systems. You can also encourage your vendors to enroll into the Payee Manager system through GlobalPay via programed or ad hoc s. You can simply your vendor through the system with a link to the enrollment page. Once enrolled and you have approved their details, they are set up on the system so you can pay them electronically via the GlobalPay payment process and they can track the progress of their payments. 11

13 PAYMENT TOOLS The built in campaign management tool enables you to: Create enrollment campaigns through a series of prepopulated (HTML) templates and letter templates that explain the process and benefits Manage vendor lists and send s to vendors Manage the design color scheme and logo on your enrollment page; all of these elements can be reused for one or more campaigns Include terms and conditions that must be accepted View checklists View and approve pending enrollments Set your preferences for pay alert s Add users and specify administration rights See who has signed up Manage campaigns, edit and delete Identify vendors via a unique profile ID number View and approve changes to contact information and bank accounts Download beneficiary information 12

14 PAYMENT TOOLS Once enrolled, you can submit payments for the beneficiary using GlobalPay s file upload service. You simply need to enter your client vendor ID for the beneficiary and it will match all the relevant payment instructions automatically. With Payee Manager, you can reduce the error rate of payments and the time involved investigating lost payments. Contact your Travelex Sales or Customer Service representative to arrange for a test drive of GlobalPay and to answer any additional questions you may have. PAYER Travelex Customer Approval Workflow GLOBALPAY PAYEE MANAGER Edit Payee Company Details Add Bank Account Modify/Change Bank Account Delete Bank Account Add New Contact Details Delete Contact Details Track Payments Payee User Administration *View Remittance PAYEE A Customer s Beneficiary PAYEE B Customer s Beneficiary PAYEE C Customer s Beneficiary PAYEE D Customer s Beneficiary *Payee Manager remittance service available second quarter of

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