Fyorin and Discover® Global Network Sign Agreement to Enhance Global Card Payments

Fyorin, a leading provider of innovative financial operations solutions, is excited to announce its strategic relationship with Discover® Global Network, a global payments network serving 345 million cardholders worldwide, with $589 billion in global spend in 2023. Discover Global Network is accepted at more than 70 million global merchant locations worldwide and millions of additional micro-merchants connected to marketplace and payment facilitators across 200+ countries and territories. This collaboration is set to provide businesses, particularly those operating digitally like e-commerce and media buying companies, with a tool to enhance their bottom line.

Fyorin has gained recognition for its visionary approach to financial technology, notably its unique strategy of building a horizontal network of financial institutions. This approach allows businesses to diversify liquidity risk, unify financial data, and streamline compliance processes through a single portal, offering a seamless global financial ecosystem. Fyorin’s platform enables finance teams to multi-bank through one single solution on a global basis due to its strong ecosystem of financial institutions. This enables businesses to localise their payments strategy both for receivables and payables for bank transfers and card payments.

Discover ® Global Network, with its global reach and acceptance, aligns with Fyorin’s vision. Together, Fyorin and Discover Global Network offer a game-changing solution: Business-to-Business (B2B) virtual cards that can help lower payment costs and bolster the bottom line for companies operating digitally.

Unlocking Savings Through Discover B2B Virtual Cards

This collaboration will change how businesses manage their expense management. With use cases ranging from corporate travel to media buying on platforms like Google and Facebook to online subscriptions, these virtual cards help empower companies to:

• Reduce Payment Costs: Discover B2B virtual cards offer a cost-effective way to manage digital expenses. By streamlining payments and reducing the complexity of cross-border transactions, businesses can lower transaction fees and foreign exchange costs.
• Improve Bottom Line: The savings achieved through Discover B2B virtual cards can lead to improved profitability. Businesses can convert payments costs into earnings, boosting their bottom line and reinvesting in growth and innovation.
• Streamline Reconciliation and Receipt Collection: Through the rich data collected on card payments, alongside features and flexibility built by Fyorin, the solution can streamline the whole process from invoice collection, chasing employees, to posting into your preferred accounting system.

Through this work, merchants in various sectors will benefit from the combined power of Fyorin’s global network of financial institutions and Discover® Global Network to enhance their business expense management. This collaboration will help them to operate globally in a more seamless way, which may open doors to new markets and growth opportunities.

This agreement will continue to fuel innovation in the fintech space, leading to the development of cutting-edge financial products and services that cater to the evolving needs of businesses seeking international payment systems. Businesses can further streamline their financial operations, consolidating their payment processes within Fyorin’s unified platform, enhancing efficiency, and reducing operational costs.

“We are excited about the possibilities this collaboration holds for businesses operating digitally,” said Christian Joseph Agius, Co-Founder & COO of Fyorin. “Our collaboration with Discover Global Network is a significant leap forward in simplifying global card payments for businesses. We are bringing business banking closer to CFO workflows. Together, we are committed to reshaping the future of international transactions, offering businesses unprecedented access to seamless global payment capabilities.”