As companies continue to trade on a more global platform, cross border payments have and will continue to increase as a result. Payments can quickly become complex, time-consuming and resource-intensive with traditional payment
Banking fees on cross border payments are significant for all companies. In many cases, these wire fees are hard to determine ahead of executing on a payment. Our research has shown that the average cost per payment is €10. If your business is to make an average of 25,000 payments per month, you will incur €3,000,000 in banking charges each year – so it all begins to add up!
Pay powered by TransferMate Global Payments
Pay is our next generation of cross border payments, made possible through our global settlement network of local bank accounts across 200+ countries in 141 currencies. We offer companies the ability to consolidate multiple payment providers into one solution. Pay is regulated to banking standards globally with one of the largest footprints of payment licenses in the industry. We encrypt data to the highest standard and certifications and are SOC 2 and ISO 27001 certified.
Pay’s market-leading technology & extensive treasury capabilities make us the partner of choice for leading brands around the world. Our award-winning payments technology is built upon decades of experience, transforming B2B payments into a streamlined, one-click process with seamless user experience.
Businesses can make one local payment, which fulfils up to 10,000 invoices in multiple currencies. There are no handling fees, no international sender nor international receiver fees – with payments delivered overseas within 48 hours. Our Pay solution provides full visibility and control to reduce errors & track payments. This removes the need for manual invoice reconciliation, ultimately saving businesses time and money
Common challenges for companies with cross border b2b payments
Reconciliation Issues & Friction Points
Due to lack of technology integration, payment solutions can be fragmented taking significant time to issue, reconcile payments & resolve errors.
Delayed Payments
The traditional banking system has multiple parties in the critical path. Beneficiaries can often take days rather than hours to receive payments
High Cost of Cross Border Payments
Handling fees charged by each bank in the chain results in significant bank sender fees & overseas receiver fees.
Fintua is empowering business to take control of cross border payments.
Pay allows your business to integrate our payments technology with your current systems, enabling you to focus on what you do best, while we take care of your payments. Our Global Payments solution reduces administrative workload saving your business time and money.
About Fintua
Fintua is a global leader in indirect tax compliance and tax technology. Our all-in one-platform streamlines global VAT compliance, recovery, eInvoicing and payments – helping businesses navigate the complex indirect tax landscape with ease and confidence
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