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International Payments

The art of efficient international payments

Mangana Arts & Crafts
The art of efficient international payments Time is of the essence. Mangana Arts and Crafts has reduced its payment cycle by half.
With a network of suppliers spanning India, the USA and Thailand, foreign exchange rates and efficient payments play a significant role in Mangana Arts and Crafts’ success. With an ambition to begin importing from even further afield, the company required a flexible payments solution that offered better certainty around exchange rates.  

Challenge

Managing international payments to multiple suppliers for each shipment was time intensive and cumbersome. Beneficiaries were often charged fees for receiving a payment, which led to funds arriving short.

Solution

The Western Union Business Solutions online payment platform allows Mangana Arts and Crafts to easily manage international payments to 200 countries and territories, in over 130 currencies. Real-time exchange rates mean Mangana Arts and Crafts can see in advance exactly how much a foreign invoice will cost in local currency.

Result

Mangana Arts and Crafts has halved the amount of time it takes for a payment to reach its destination, and beneficiaries are no longer charged fees on receivables. Real-time rates have helped it save thousands of dollars on each shipment.

“The main benefit has got to be the thousands of dollars that I save on every container load.” Judy Ischia, Found, Mangana Arts and Crafts  

Judy Ischia Mangana Arts and Crafts
The Last
Exchange
Transparency and efficiency are important for any business that deals with international suppliers. Now that Managana Arts and Crafts its payments under control, it can focus on expanding its importing network and building its business.
International Payments  Foreign Exchange  International (Global) Strategies 

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