BNY Mellon today announced the launch of SmartPay GlobalSM, a foreign exchange (FX) and multi-currency service that allows seamless payments in more than 160 countries from a single US or UK-domiciled account.
SmartPay GlobalSM offers two main services:
Financial institutions with global payment requirements can use SmartPay GlobalSM to access BNY Mellon's existing FX and multi-currency payment solutions, with minimal onboarding and integration.
The service enables users to offer an expanded selection of currencies to their clients and provides a range of customizable options for applying FX rates and tiers to their clients' payments and receipts. As a result, participants can utilize SmartPay GlobalSM to offer clients differentiated FX payment pricing.
In addition, SmartPay GlobalSM enables users to offer FX and multi-currency payments to their clients without concerns about losing control of the relationship to a third party.
"The seamless cross-border payment experience of SmartPay GlobalSM stays true to our overall vision of delivering a trusted, safe, and simple payment experience to clients," said Paul Camp, Chief Executive Officer, BNY Mellon Treasury Services. "SmartPay GlobalSM provides our clients with access to a simple yet highly customizable payment solution that can meet the needs of their clients, while underpinned by BNY Mellon's leading payment technology."
"FX markets are constantly evolving – and so are we. SmartPay GlobalSM is an example of how our investment in FX platforms are delivering world class payments solutions to our clients," said Ed McGann, Head of FX Overlay and FX Payments, BNY Mellon Markets. "The partnership between Markets and Treasury Services enables us to meet the needs of our clients through integrated FX and payments capabilities in a seamless and efficient manner."
For more information about SmartPay GlobalSM, please visit our website.
ABOUT BNY MELLON TREASURY SERVICES
BNY Mellon Treasury Services offers its clients solutions in global payments, trade services, cash management, and foreign exchange. It operates in 36 countries, helping clients optimize cash flow, manage liquidity, and make payments more efficiently in the currencies of more than 160 countries. Its services help organizations conduct payment operations, ensure adequate liquidity, and manage risk.
ABOUT BNY MELLON MARKETS
BNY Mellon Markets helps clients access capital, financing and liquidity through a suite of foreign exchange, securities finance, collateral management and segregation, capital markets, liquidity and prime brokerage services. This unique combination of solutions helps our clients navigate the financial markets and face the challenges of evolving regulations, increasing capital constraints, liquidity concerns and the growing demand for transparency.
ABOUT BNY MELLON
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of December 31, 2018, BNY Mellon had $33.1 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.