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CLEA expands cross-border payments with new Vendor Payments tool for African businesses
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Technext
The Lagos-based, stablecoin-powered cross-border payments platform has launched Vendor Payments, a new feature that lets business customers pay international suppliers, vehicle auction platforms and shipping companies directly from their CLEA accounts without leaving the platform to initiate a separate transfer.
Vendor Payments: simplifying cross-border paymentsHow CLEA’s Vendor Payments workHere is how it works: customers select a supported vendor, enter a payment reference such as a buyer number, lot number or invoice number, and authorise the transaction.
Because vendor information is preconfigured on the platform, CLEA says payments complete instantly rather than sitting in the multi-day limbo typical of traditional cross-border transfers.
At CLEA, we’re building more than a payments platform; we’re building the financial infrastructure businesses need to trade globally with confidence.
For now, Vendor Payments is restricted to eligible, verified CLEA business customers and supports USD payments to selected suppliers in the United States only.