The process of moving money from one currency to another and from one country to
another has never been a more pivotal part of conducting business as it is now.
With this current reality and the need for better, more efficient practices to handle
international payments to ensure business continuity and minimization of the risks
associated with foreign currency fluctuations, many businesses are moving to online
international payments platforms to improve their bottom line.
Traditional methods of international payments are wrought with a lack of real-time
information, little or no visibility as to payment status once it's initiated and
with New York as the main location for settlement of foreign payments in North America,
companies are forced to work within east coast banking hours. Attempting to accomplish
your business needs during these restricted hours is simply not possible for many
businesses, especially if they have locations in multiple times zones or countries.
With the currency market operating 24 hours a day, and nearly 7 days a week, using
traditional methods for international payments could mean that you lose out on favourable
overnight rates and market shifts. The delay and resulting currency fluctuations
that occur with international payments not through traditional international payments
methods can drastically affect your bottom line.
An online platform for foreign exchange can offer many benefits to your business
that will positively impact your bottom line.
A full service online platform to handle your business's international payments
needs is essential to stay competitive in your marketplace and speed up payment
delivery to your beneficiaries.
The efficiencies that your business can gain will outlast any prevailing market
conditions include speed and accuracy of payments, transparency into cost and status
of a payment, increased control over the payment process, seamless integration and
24/7 accessibility with dedicated support. Imagine what these advantages could mean
to your business.