Global trade volume is up (growth at 4.1% year over year*), expected to increase to 5.1% through 2016; but businesses are shackled to an old way of doing things.
Today, the path to success leads to foreign markets, and Small-Medium Enterprises (SME) & Mid-Market Enterprises (MME) who transfer currency to/from foreign countries are discovering the advantages that currency transfer services offer over banks.
With the ability to easily and quickly transfer currencies, modern corporate FX payment services could help your business:
- Reduce its transaction and capital costs
- Source more cost efficient suppliers
- Succeed in untapped markets
- Develop new and stronger relationships with clients and suppliers
- Strengthen its footprint in foreign markets
- Establish footholds in new markets before competitors
Many banks utilise a flat fee schedule, which means businesses that send smaller international transfers can be burdened with the same high cost of larger transfers. Corporate payment providers more often permit businesses to transfer as little—or as much—currency as they need.
Find out how in a new whitepaper, Trade Finance & Best Practice B2B Payments by Phillip Silitschanu.
*Thierry Senechal, Rethinking Trade & Finance, An ICC Private Sector Development Perspective, International Chamber of Commerce, 20 (2014)