Corpay has announced that its Cross-Border business has entered into an agreement with World Table Tennis Pte. Ltd. (World Table Tennis) to become their official Global FX Payments Supplier in 2023.
The company says that through this collaboration, World Table Tennis and all the stakeholders of its series of events will be able to gain access to and utilise Corpays solutions to help mitigate their foreign exchange exposure risks.
Additionally, Corpay Cross-Borders award-winning platform will enable eligible companies to manage their global payments from a single point of access.
Brad Loder, Vice-President, Cross-Border Marketing, Corpay Cross-Border Solutions, says the company is proud of the partnership and says it will benefit many people within the WTT organisation.
“Corpay is very honoured to be named the official Global FX Payments Supplier for World Table Tennis,” he says.
“I am confident that World Table Tennis, the players and their business partner network will benefit from access to our comprehensive cross-border payments and FX risk management solutions, along with benefit from our payments experience gained within the world of sports.
Michael Brown, World Table Tennis Chief Financial Officer, agrees, saying that the partnership will help ensure aspects like prize money are securely and effectively received in the correct format.
“In 2022, World Table Tennis has disbursed over USD $6 million in prize money, processed more than 3,000 individual transactions, to over 80 different territories around the world,” says Brown.
“This was a record year, and we expect the prize money purse to continue to grow in the coming years, and likely to have doubled again by 2024. World Table Tennis has placed the athletes at the heart of its events. Therefore, it is crucial to ensure we have partners, such as Corpay, to help ensure they receive their prize money as easily as possible.”
Kimberly Koh, World Table Tennis Partnerships Director, added that the partnership will play a significant role in enhancing a variety of areas within the sports organisation.
“We are delighted to welcome Corpay, a global leader in business payments, as World Table Tennis official Global FX Payments Supplier,” she says.
“As World Table Tennis continues to grow since its 2021 launch, Corpay will provide innovative payment services, playing a significant role in the transformation of the sport. We look forward to introducing Corpay through our corporate hospitality and business partner network and continuing to grow this partnership in the longer term.”