US-based payments platform Modern Treasury has announced the support for Global ACH, a payment service that enables lower cost cross-border payments for customers. Modern Treasury is launching support for Global ACH first with Silicon Valley Bank (SVB).

The partnership gives SVB clients more choices for cross-border payments beyond the SWIFT network. With Global ACH, customers can automate international payments using the ACH- and RTP-equivalent payment rails in other countries. This helps companies expand international capabilities with less upfront investment while driving efficiency into their global operations.

Commenting on this development, Modern Tresury’s officials said payments are in the midst of transformation, and it's critical that they support customers with an international footprint in the same way they support them domestically. Global ACH means providing customers with more choice, greater efficiency, and lower costs. Benefits of using Global ACH For companies with international footprints, Global ACH provides a number of advantages over current cross-border payment options.

Global ACH is less expensive than SWIFT and other third-party options that apply FX mark-ups, as per the press release. In addition, Global ACH provides greater predictability in the final amount received by payees because there are no lifting or unknown transaction fees. With Modern Treasury’s solution, companies can partner with a bank once and then expand globally without having to choose and integrate different payment rails in each country.

Modern Treasury and SVB expect growth in Global ACH in a wide range of industries and use cases, including marketplaces that pay out users and suppliers in international markets, shipping and logistics firms that disburse funds to vendors and suppliers abroad. Additionally, financial services providers, such as payroll and lenders sending funds to international recipients, companies with large numbers of international suppliers and contractors, and software providers offering accounts payable services for clients paying out globally or facilitating remittances can also enable growth with this solution. Officials of industrial commerce platform BluePallet explained that the partnership with Modern Treasury and Silicon Valley Bank provides their customers with a seamless payment experience, simplifying transaction management,  banking operations, and compliance reporting.

With this collaboration, they offer secure and fast international payments through a single integration. Now they can bring their payment solutions to more countries and currencies. What does Modern Treasury do? Modern Treasury helps companies unlock growth, enhance customer experiences, and drive efficiency through their business.

The payment operations platform and best-in-class developer tools move companies forward with faster payments, effective workflows, full data visibility, and seamless bank integrations. .