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ACCOUNTING software provider Reckon (ASX:RKN) has teamed up with one of the world's largest international money transfers businesses.
The Sydney-based company has formed a strategic partnership with OzForex trading as OFX (ASX:OFX) to streamline international payments.
Reckon's Australian customers that are registered with OFX will be able to make fast and secure money transfers through the platform.
Reckon Australia and New Zealand managing director Sam Allert says the partnership will help clients reduce costs.
"We chose to work with OFX as they are a market leader in global payments, using trusted payment systems that give businesses access to lower cost international payments," Allert says.
"Most SME businesses simply don't realise how much they are paying to transact with customers, suppliers or employees in other countries."
He says customers will have access to 'better-than bank' rates on 55 currencies, no OFX fees on transfers and 24-7 customer service. While Reckon Partners will receive access to a range of foreign exchange tools to provide additional value added to services to their clients.
OFX Group CEO Richard Kimber says aligning with a well-known brand like Reckon will drive growth for the company.
"The partnership is consistent with our Accelerate Strategy, targeting wholesale opportunities that embed our services in already established ecosystems," Kimber says.
"We believe this partnership will result in increased brand awareness and lead to further customers for OFX."
Reckon One customers, who are registered with OFC, will be able to automatically make international payments against Reckon One invoices directly from the OFC platform in the coming months.
The announcement follows a global partnership with MyFirmsApp last month, to facilitate fast document sharing through its Virtual Cabinet.
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