Cross Border Payments
Many businesses have a global financial supply chain that requires payments to be made in foreign countries. The costs, lack of transparency, and effort required under existing models make this challenging for most businesses. PayCommerce offers the ability for both financial institutions and businesses to pay counter parties in foreign locations in a cost effective manner with fast settlement cycles. Businesses with high volumes of low value payments will see significant cost savings using the PayCommerce Cross Border Payment Solution. Frequent use cases include:
- Supplier Payments
- Merchant Settlement
- Dividend Payouts
- Payroll
- Pension Payment
- Employee Benefits
The PayCommerce Cross Border Payment Solution provides a comprehensive set of services for global transaction management:
- Single and Batch Transaction Management
- Reconciliation of Payments
- Exceptions Management
- Near-Real-Time Transaction Status
- Transparent FX Fees and Rates
- Compliance Management
- B2B, B2C Payment Notifications by email/SMS
- Comprehensive Remittance Data Support
- Supports Multiple Industry Message Standards
- Integration API’s for Payment and FX
- Administrative Portal for FIs and Enterprises