Boost-Transfermate Pact Aims to Streamline Cross-Border Payments

Boost Payment Solutions has teamed with Transfermate to address a rising demand for cross-border payments.

The partnership, announced Thursday (March 12), combines Boost’s cross-border payment solution for enterprise-level business, Boost 100XB, with TransferMate’s payments infrastructure to help promote industry-wide commercial card usage and adoption.

“Cross-border payments are no longer just a financial transaction — they’re the bridges that connect our global digital economy,” Boost Payment Solutions founder and CEO Dean M. Leavitt said in a news release.

“By combining our expertise in commercial card optimization with TransferMate’s robust global payout infrastructure, we’re creating a more powerful, seamless payment experience while maintaining the highest levels of regulatory compliance and security that our customers expect.”

Leavitt added that the partnership “levels the playing field among those commercial card issuers that can issue cards globally and those that cannot.”

According to the release, the partnership centers around Boost 100XB, a feature of the company’s Boost 100 offering, which uses a two-step payment process in which the transaction is initiated on the card rails and settles through a variety of payment modalities and currencies that best suit the needs of the supplier.

Boost 100 was designed to address this need by helping enterprise buyers pay 100% of their suppliers by card no matter how suppliers wish to get paid.

“Boost 100XB, along with TransferMate’s focus on regulations, compliance and security across its extensive global payments network, enables buyers and suppliers to increase cost efficiency and speed for sending and receiving secure digital cross border payments,” the release said.

PYMNTS spoke earlier this year with Boost Payment Solutions Chief Technology Officer Rinku Sharma about the potential of generative artificial intelligence (AI) to transform the payment industry.

As that report noted, AI offers the opportunity to streamline, optimize and elevate operations, especially B2B payments that have historically involved intricate workflows and tend to rely on manual, legacy processes.

“It’s about balancing innovation with stability and compliance to ensure we’re delivering value while protecting our ecosystem,” Sharma said of his company’s approach to using AI.

“Public AI systems, like chatbots, can’t simply be lifted and shifted for sensitive applications. Private AI offers greater control over data access and compliance,” Sharma said, stressing the importance of private AI models for enterprise use cases.

He added that automation is another area ripe for innovation, with Boost exploring how AI can improve its in-house automated solutions.

“Our buyers and suppliers process hundreds of payments daily, often in various formats,” Sharma said. “GenAI will dramatically reduce the time to market and operational load by adapting quickly to new platforms and formats.”

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