World Table Tennis (WTT) has announced Corpay Cross-Border as their global FX payments supplier for 2023.

The partnership will see World Table Tennis and all stakeholders gain access to and utilise Corpay’s innovative solutions to help mitigate their foreign exchange exposure risks.

Additionally, Corpay will enable World Table Tennis to manage global payments from a single point of access.

Commenting on the partnership, Cross-Border Marketing, Cross-Border Solutions vice president, Brad Loder, said: “Corpay is very honoured to be named the official Global FX Payments Supplier for World Table Tennis.”

“I am confident that World Table Tennis, the players and their business partner network will benefit from access to our comprehensive cross-border payments and FX risk management solutions, along with benefit from our payments experience gained within the world of sports,” he said.

WTT partnerships director, Kimberly Koh, added: “We are delighted to welcome Corpay, a global leader in business payments, as World Table Tennis’s official Global FX Payments Supplier.”

“As World Table Tennis continues to grow since its 2021 launch, Corpay will provide innovative payment services, playing a significant role in the transformation of the sport.

“We look forward to introducing Corpay through our corporate hospitality and business partner network and continuing to grow this partnership in the longer term,” she said.

On distributing funds, World Table Tennis CFO, Michael Brown, said: “In 2022, World Table Tennis has disbursed over $6M USD in prize money, processed more than 3,000 individual transactions, to over 80 different territories around the world.”

“This was a record year, and we expect the prize money purse to continue to grow in the coming years, and likely to have doubled again by 2024.

World Table Tennis has placed the athletes at the heart of its events.

Therefore, it is crucial to ensure we have partners, such as Corpay, to help ensure they receive their prize money as easily as possible,” he said.

The announcement comes after Corpay entered a multi-year partnership with FINA.