December 22 – West Ham United have added global payments company TransferMate as the club’s Official Payments partner. TransferMate will be the Club’s exclusive foreign currency provider for foreign exchange payments, including player transfer transactions.
As well conducting club business, TransferMate will also brand itself across club media platforms to grow new business from fans, corporate membership, West Ham’s partnership network and companies based in London’s nearby financial district.
West Ham United Vice-Chairman Karren Brady said: “TransferMate’s unique global payments solution will be a huge asset to us as we continue to identify and attract the brightest talents in world football.
“It is yet another significant example of our ongoing commitment to bringing innovative and ambitious partners on board who share our vision of an exciting and successful future at London Stadium.”
No figure was put on the deal. But if TransferMate’s boasts are true the club will save money on its currency exchange business – particularly in buying in foreign players. The club will benefit from better exchange rates and lower bank fees.
TransferMate says it virtually eliminates the cost of sending international payments by collecting and sending payments using their own local bank networks. “Clients benefit from better exchange rates, lower bank transfer fees and direct integration into their back end accounting systems,” said a club press statement.
There has been an increase in banking business and financial services sponsors in the Premier League following the ending of the Barclays sponsorship and its category exclusivity. Leicester City and Watford have both added foreign exchange sponsors.
TransferMate Co-Founder and Group CFO, Sinead Fitzmaurice added: “This new partnership with West Ham United is of huge significance and it is an honour to be the Club’s Global Foreign Exchange and Payments Provider. I am confident that our global FX solution will enable West Ham United to continue in their pursuit of attracting the world’s leading footballing talent and skills. By offering the most innovative global payment solutions in the market, TransferMate are set to deliver huge savings for the club into the future.”
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