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Alexander Hamilton Awards

Automating FX and Cash Management

Why tech startup Clearsettle won the 2018 Silver Alexander Hamilton Award in Liquidity Management.

For London-based tech startup Clearsettle, liquidity isn’t just important to support the business—it is the business. The company provides a technology platform that settles cross-border transactions for online merchants.

Alistair Cotton, treasury manager for Clearsettle, explains his company’s service by describing a hypothetical U.K. footwear retailer: “Maybe their shoes suddenly become fashionable in Asia, and lots of Japanese customers start coming to shop on their website,” he says. “But if the merchant only has a U.K. card acquirer, Japanese customers’ credit cards won’t work. What Clearsettle does is connect to acquirers and other organizations that provide payment settlement. So for the merchant, instead of having to do integrations with a lot of different banks around the world, they do one integration with us and we allow them to globalize their acceptance of payments on their websites.”

Once a retailer has integrated with the Clearsettle platform, it can go to the solution’s “payment wall” and select which payment types it will accept, from among more than 50 options. “We make it very easy for them to put cross-border payment options on their website and start accepting payments globally rather than having to integrate a lot of different technologies,” Cotton says. “They can focus on what they’re doing well—selling shoes, in this example—and we provide the underlying plumbing for them get paid for their products worldwide.”

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Meg Waters

Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.

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