Internet Mobile Communications Ltd (IMC) are pleased to announce American Express as its new strategic Payments Partner enabling the fast delivery of cost effective USD payments with rewards for ALL Bank of Telecom ® Members.
Bank of Telecom ® is the global market for international voice telecom suppliers. Launched on 1st September 2015 Bank of Telecom ® already has over 300 Members.
American Express is the 88th Fortune 500 Ranking Company with assets of US$161Bn and 117.8m Cards in force and worldwide billed annual business of US$1Tn with a net income of US$5.16Bn and annual revenues of over US$32.8Bn.
Bank of Telecom ® is the first telecommunications company to partner with American Express via the integration of its Bank of Telecom ® automated international voice telecoms platform with the American Express FX platform enabling ALL Bank of Telecom ® Member payments to be made seamlessly and same day via American Express.
Bank of Telecom ® Members currently reside in 67 countries across every Continent with the majority of Members represented in South America, Africa, and Asia.
The financial benefits to ALL Bank of Telecom ® Members compared to traditional bilateral voice trading are:
- Savings of more than 70% versus traditional Bank wire charges
- Members set Route payment terms and price so improving cash flow and profitability
- Automatic payments for ANY value for a single US$20 charge improving cash flow.
- Same day payments confirmed by American Express email
- One continental flight gifted per US$25,000 of trades
- One intercontinental flight gifted per US$100,000 of trades
Mark Stewart, CEO, Bank of Telecom ® said “We are delighted to partner with American Express a world brand and leader in Fx international payments. Members can now trade with Bank of Telecom and obtain ‘Trade Credits’ in the form of flights as well as cash credits”.
For example US$400,000 of trade would allow a German carriers to gain free flight to ITW, four regional European trade shows, a South American, Asian and PTC trade show each year. This represents an estimated saving of US$5,000 in addition to all other Bank of Telecom savings.
Eugene Nedbailo, Commercial Director, Bank of Telecom ® added’ “Working with AMEX further speeds up payments improving cash flows and Members not only save money, reduce credit risk, and optimize their operational effort to make money but now get rewarded by flights in the process; thus allowing Members to fly to Telecoms Trade shows for free!”
ALL Members trading on Bank of Telecom ® will see an increase in trade margin from using the service since their costs will be so much less. Please contact your commercial representative for a FREE cost comparison. The Bank of Telecom® portal (www.bankoftelecom.com) is offered in Chinese, Russian, Spanish and English as the world’s first voice telecoms market for suppliers.
IMC’s vision is to continue to develop its business for all nationalities, cultures, languages and locations for consumer and business users worldwide.
For more information: www.im-comms.com
For more information: www.americanexpress.com