Cambridge Global Payments Goes International

In an announcement made today (Oct. 22), Cambridge Global Payments announced the rollout of its new trading and payments platform, Cambridge Link, designed to ease cross-border transacting friction.

In a statement sent to PYMNTS, Cambridge Global Payments Chief Technology Officer Corinne MacMillan said the platform is a response to the complex needs of businesses conducting global trade — especially as consumers get more robust tools of their own.

“The more consumers are being inundated with user experiences that are intuitive and agile, the greater the expectations are becoming for enterprises to conduct business in a digital format that provides the same, if not better, user experience ubiquitous today,” MacMillan said, adding that the goal of the platform is to facilitate corporations’ international trade and payments needs over a streamlined user interface and adaptability across desktop, smartphone and tablet.

[bctt tweet=”Expectations are rising for enterprises to conduct business in a digital format.”]

Cambridge Link, the company said, includes mechanisms to secure payments through routing and regulatory data and a system that notifies businesses of the exact requirements for payments depending on jurisdiction.

Cambridge added in its announcement that the platform was created “with developers in mind,” meaning the system can be easily integrated into existing corporate accounting systems and processes.

The platform also supports SWIFT and local payments in dozens of countries across the globe.

In a separate statement, Cambridge Chief Executive Officer Gary McDonald called the platform the firm’s “most ambitious product yet.”

“Cambridge Link aligns with our overall expertise in optimizing technology to execute integrated payment services,” he said. “Cambridge Link is a gateway to our unique banking footprint that provides payment delivery to over 170 countries through an array of delivery channels. Above all, the platform enables organizations to focus on their business growth, leaving the complexities of making payments to Cambridge Link.”

The new tool will debut next week at the Money20/20 global payments event, the firm added.

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Stripe Enables Merchants to Instantly Offer Klarna Payment Options

Businesses in 25 countries that use Stripe’s financial infrastructure platform can now instantly offer Klarna’s payment options to their customers.

This capability was enabled by a newly strengthened global partnership of Stripe and Klarna, the companies said in a Tuesday (Jan. 14) press release.

“Stripe is now the easiest way for businesses to offer Klarna,” Stripe Chief Business Officer Jeanne DeWitt Grosser said in the release. “Thanks to our partnership, businesses on Stripe will continue to grow their revenue and offer consumers more options in how they can pay.”

Klarna allows consumers to pay with their choice of immediate payments; short-term, interest-free buy now, pay later (BNPL); or longer-term financing, according to the release.

Merchants offering BNPL as a payment option see increased conversion and higher average order values, the release said.

The strengthened partnership between the companies was launched in the fourth quarter of 2024 and helped Klarna double the number of new merchants offering its payments for the first time during that period, per the release.

“The ambition is to make Klarna payments available everywhere, for everything, all the time,” Klarna Chief Commercial Officer David Sykes said in the release. “Stripe is now a top choice for both Fortune 500 companies and the world’s most ambitious startups, and we see them as a great distribution partner for us.”

Klarna partnered with Stripe in October 2021, saying the move allowed millions of online businesses across the United States and 19 countries in Europe to offer Klarna’s installment payment options to customers.

In June 2024, Klarna sold its online checkout solution, Klarna Checkout (KCO), in a move that the company said will allow it to concentrate on its flexible payment methods that it offers in conjunction with multiple service providers.

Bloomberg reported at the time that by divesting itself of KCO, Klarna eliminated the competition and friction with payment service providers (PSPs) like Stripe and Adyen that it had experienced while offering its payment methods directly to merchants through KCO and via distribution through PSPs.

The move also allows KCOs to grow under its new ownership, the Bloomberg report said.