The Recreation Vehicle Dealers Association (RVDA) of Canada announced that it has formed a new endorsement partnership with Cambridge Global Payments, a FLEETCOR company. According to a press release, Cambridge is one of largest bank-independent providers of international payments and foreign exchange solutions globally, including strategies for currency risk management. Cambridge has more than 13,000 clients worldwide, nearly 500 employees and transacts over $40 billion annually.
Dealers will be able to utilize Cambridge’s innovative solutions to help mitigate foreign exchange exposure for their day-to-day business needs. This type of program will enable dealers to potentially capture upside risk while protecting against the downside. Cambridge will work with the Canadian dealer body to implement, manage and hedge against currency market risks in a collaborative and active approach. In addition, its award-winning trading platform enables businesses to manage their global payments from a single point of access.
“With the majority of new RVs as well as parts coming in from the U.S., a program such as this will be very beneficial to our membership,” stated Herb Cowen, RVDA of Canada chairman. “Our new partnership with Cambridge Global Payments will ensure that our members can manage their cash flow in a more stable manner as well as protect their assets when markets become more volatile. We look forward to working with Cambridge Global Payments.