<html><head></head><body><img src="https://content.mtfxgroup.com/uploads/mtfx_blog_post_28_10_2021_1_85e2665bc6.png" alt="Mini shopping carts, cardboard boxes, and a glass globe on a laptop keyboard representing global eCommerce and international online payments." srcset="/uploads/thumbnail_mtfx_blog_post_28_10_2021_1_85e2665bc6.png 241w,/uploads/small_mtfx_blog_post_28_10_2021_1_85e2665bc6.png 500w," sizes="100vw">Statista¹ estimates that nearly 1.2 trillion USD worth of products and services will be sold via B2B e-commerce websites by the end of 2021. According to Digital Commerce 360, B2B marketplaces generated $680 billion in 2018, and they expect revenues to increase to $3.6 trillion by 2024. To put it in context, that is about twice the value of Canada’s projected GDP for 2021.Old fashioned payment methods like cheques simply don’t work for the transaction volumes and models which take place on B2B eCommerce marketplaces. Online international money transfer is far better suited.There is clearly a great deal of opportunity ahead for B2B distributors, manufacturers, and online service providers in niches like fintech. They simply have to determine whether the best way forward would be to operate their own marketplace as a host, or participate in other existing and emerging marketplaces.Unlike B2C transactions, many B2B orders are often delivered in multiple incremental shipments instead of all at once. For companies buying products from <a target="_blank" href="https://www.mtfxgroup.com/post/stop-wasting-money-paying-overseas-suppliers-in-us-dollars/">international suppliers</a>, payments for shipped goods can be scheduled in advance, in parallel to the shipping schedule.<h2>Operating a B2B Marketplace</h2>Merritt Hummer, a partner at Bain Capital Ventures recently wrote a TechCrunch² article declaring B2B marketplaces the next billion-dollar startups. The article acknowledges that even though the majority of <a target="_blank" href="https://www.mtfxgroup.com/business/small-business/">B2B payments</a> are still made by cheques, that online payment services from companies like MTFX are quickly gaining ground. Cross-border online money transfer transactions clear faster than cheques, and they are subject to stronger controls to prevent fraud and money laundering.According to the Digital Commerce 360 survey&nbsp;referenced above, 22 of 201 distributors surveyed plan to launch online marketplaces to compete with marketplaces from giants like Amazon, Alibaba, and eBay. This may seem like a low number on the surface, however 22 B2B marketplaces can represent thousands or tens of thousands of vendors, and millions of customers buying from those suppliers and service providers.Online marketplace operators with global market reach can assist their vendor partners who have never sold internationally before and generate revenue through transaction fees. Conversely, marketplace vendors can benefit by leveraging the marketplace as a route to an overseas market which was previously inaccessible.The volume and velocity of international transactions on marketplace portals exceed the pace of old-fashioned payment methods like checks or ACH payments. International money transfers can drive foreign exchange costs down for marketplace operators, customers, and vendors on <a target="_blank" href="https://www.mtfxgroup.com/business/small-business/">imported goods</a> transactions.<h2>B2B Marketplaces for Services</h2><a target="_blank" href="https://www.mtfxgroup.com/business/online-sellers/">E-commerce marketplaces</a> are mostly geared towards bringing together buyers and sellers of tangible products, yet there are many service-oriented marketplaces which have emerged for services like:<ul><li>Shipping and transportation</li><li>Digital services like software as a service (SaaS)</li><li>3D printing</li><li>Professional services like HR, IT, legal, and consulting</li></ul>Most marketplace operators charge their vendors setup charges and transaction fees for enabling e-commerce sales on their platforms. Some marketplaces charge their vendor partners monthly or annual subscription fees to showcase their services on the platform.<h2>E-Commerce Marketplaces Build Vendor Awareness and Reputation</h2>It can be challenging for new and even established manufacturers, distributors, and service providers to generate awareness and a strong standing in their niche. Without being “plugged in” to marketplaces where their customers can procure the goods and services they need to operate, many B2B sellers could find themselves at a disadvantage to compete from the outside.According to the Digital Commerce 360 report³, 57% of the consumers that purchased products from a retailer’s website said they had discovered the suppliers they do business with on a marketplace website. This was a year-over-year increase of 5%, and a five-year increase of 30% since the first poll of its kind in 2016. This statistic comes from a B2C marketplace study, however experts from McKinsey⁴ report that price transparency on B2B marketplaces provides suppliers with great opportunities to connect with more buyers.Marketplaces enable buyers to review the products they purchase online, enabling companies offering high-quality goods and services to rise above their competitors. Many product marketplace sellers conduct their first transaction or two with clients on the e-commerce hub and sell their wares directly to those customers going forward. Some B2B marketplaces act as affiliate partners and collect referral fees for sales generated by their hub, while others process transactions on behalf of their vendors as successful marketplaces like Medlity and PartCycle.com.<h2>B2B Marketplaces and International Online Payments</h2>Offering foreign and domestic business buyers the opportunity to purchase products from multiple product categories online from a single supplier offers benefits to buyers and sellers. B2B marketplace hubs offer customers the opportunity to consolidate their procurement operations. They can read reviews by their peers to ensure the quality of the products and services they buy are worth their investment.About 30% of all online B2B sales this year took place on online marketplaces. For businesses planning to establish and run an online marketplace for a global audience, an online payment provider like <a target="_blank" href="https://www.mtfxgroup.com/">MTFX</a> can enable fast, secure, reliable <a target="_blank" href="https://www.mtfxgroup.com/business/global-payment-solutions/international-payments/">cross-border payments</a>. International payments can be made from the United States or Canada in over 50 currencies to 140 countries to overseas suppliers. Each marketplace vendor can be assigned their own secure account to facilitate secure, fast payments.Import and export vendors can leverage forward contracts to minimize the impact of <a target="_blank" href="https://www.mtfxgroup.com/tools/live-exchange-rates/">currency exchange fluctuation</a> on their product margins for incremental payments. They can also track high-value transactions in the event they wait for payment before shipping high-value or large quantities of products overseas.Our platform can help you grow your profits. Learn more about how our payment platform can help you generate awareness for your <a target="_blank" href="https://www.mtfxgroup.com/industry-solutions/online-sellers/">online marketplace sellers</a> and expand your marketplace presence globally. Contact us and we will show you how our foreign exchange currency <a target="_blank" href="https://www.mtfxgroup.com/business/risk-management/forward-contracts/">risk management</a> and payment solutions can help you succeed in the competitive, high stakes realm of B2B e-commerce marketplaces.<a target="_blank" href="https://online.mtfxgroup.com/register/?source_page=b2b-ecommerce-marketplaces---diversifying-international-payment-options">Open an account today</a>&nbsp;and see how our digital payment platform can improve your profitability and keep you agile and active in the global market.&nbsp;Popular related articles;<ul><li><a target="_blank" href="https://www.mtfxgroup.com/post/how-do-i-send-money-outside-canada-mtfx/">How do I Send Money Outside Canada? – MTFX</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/how-to-save-on-overseas-money-transfers-mtfx/">How to Save on Overseas Money Transfers – MTFX</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/how-to-send-money-abroad-and-make-international-payments/">How to Send Money Abroad and Make International Payments</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/7-reasons-to-use-a-currency-specialist-to-send-money-abroad/">7 Reasons to Use a Currency Specialist to Send Money Abroad</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/how-to-send-a-large-amount-of-money-overseas/">How to Send a Large Amount of Money Overseas?</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/forward-contract-add-certainty-in-uncertain-times-for-import-export/">Are you an Importer or Exporter? A Forward Contract could Add Certainty in Uncertain Times</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/why-you-need-an-exchange-hedging-strategy-to-protect-business-profits/">Why you Need an Exchange Hedging Strategy to Protect Business Profits</a></li></ul><h2>Sources</h2><ol><li><a target="_blank" href="https://www.statista.com/markets/413/topic/458/b2b-e-commerce/">Statista B2B E-Commerce Report</a></li><li><a target="_blank" href="https://techcrunch.com/2020/11/04/b2b-marketplaces-will-be-the-next-billion-dollar-e-commerce-startups/">B2B marketplaces will be the next billion-dollar e-commerce startups</a></li><li><a target="_blank" href="https://www.digitalcommerce360.com/2020/08/31/covid-19-drives-more-business-to-b2b-marketplaces/">Digital Commerce 360 B2B</a></li><li><a target="_blank" href="https://www.mckinsey.com/capabilities/operations/our-insights/how-b2b-online-marketplaces-could-transform-indirect-procurement">How B2B online marketplaces could transform indirect procurement</a></li></ol></body></html>

Mini shopping carts, cardboard boxes, and a glass globe on a laptop keyboard representing global eCommerce and international online payments.

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B2B E-Commerce Marketplaces - Diversifying International Payment Options

<img src="https://content.mtfxgroup.com/uploads/imgmking_fd932a4a30.jpg" alt="Collage of international small business owners, farmers, and vendors with currency symbols from around the world and a red 'PAID' stamp at the center, representing global vendor payments." srcset="/uploads/thumbnail_imgmking_fd932a4a30.jpg 245w,/uploads/small_imgmking_fd932a4a30.jpg 500w,/uploads/medium_imgmking_fd932a4a30.jpg 750w," sizes="100vw">Have you considered paying your vendors in their local currencies? This is why you shouldYou might have thought that using your home currency for your international transactions versus the local currency of the supplier was your simplest option, but if you pay attention to the entire transaction process, going this route leaves you and your business susceptible to market volatility while at the same time potentially forcing you to pay double the conversion fees.When it comes to doing business across borders, one party always needs to be responsible for the currency exchange. Depending on the market in which you are making your vendor payments, there is a chance you could be paying a premium that exceeds the cost of converting your currency without realizing it.<h2>There are many Players within the International Transfer Process that could Cost you and your Business Added Fees</h2>When it comes to cross-border payments and using your home currency to pay your vendors, you could be at the mercy of paying a lot of players along the way before your transaction is fully settled. Fees can arise from your bank for processing an international wire transfer to make the vendor payment (ranging anywhere from $10-$50), in most cases an intermediary bank is required when paying a vendor internationally and when used they take an additional processing fee, the beneficiary bank for your vendor will also take a fee when the payment reaches their bank account, and additionally, there will be another conversion fee to transfer your home currency funds into the local currency of your vendor to complete the payment.When all those steps are finalized, you end up paying an additional sum of upwards of 7 percent. You, and your business, also shoulder the risk that your currency could lose value in transit due to fluctuating currency exchange rates between the time of your invoice payment and the final settlement, which can be lengthy.<h2>Why you should be Paying your Vendors in their Local Currency?</h2>Innovative fintech has emerged in the category offering local in-country payment solutions that can save your business the fees noted above while at the same time, reducing your businesses FX exposure by giving you the ability to make <a target="_blank" href="https://www.mtfxgroup.com/business/global-payment-solutions/international-payments/">payments</a> and hold funds in multi-currency accounts that you can access any time, 24/7, thus removing the need to make costly currency conversions.Not only can you save on processing and currency exchange fees with local in-country payments, but next-generation solutions from fintech leaders in the space, like <a target="_blank" href="https://www.mtfxgroup.com/">MTFX</a>, can also enable direct integration of these solutions into your business ERP system, removing all the manual reconciliation work that is normally required to balance and record your overseas business transactions.MTFX’s international payout solution provides your business access to +100 currencies, including exotic, and is compatible with all of the top ERP systems in the market including, Quickbooks, Oracle, SAP, Dynamics 365, and Sage, among others. This solution facilitates, through API automation, the generation of your payables as well as the settlement of your overseas business payments, all in one easy-to-use portal so you can keep track of your cash flow while saving both time and money.<h2>Our Platform can Help you Grow your Profits</h2>Learn more about how our payment platform can help you retain your local customers and expand your business globally.<a target="_blank" href="https://online.mtfxgroup.com/register/?source_page=are-you-paying-your-vendors-in-their-local-currency---blog-mtfx">Open an account today</a> with MTFX and&nbsp;start enjoying fast, cost-effective, and convenient international money transfers.&nbsp;Popular related articles;<ul><li><a target="_blank" href="https://www.mtfxgroup.com/post/4-reasons-why-mtfx-is-better-than-your-bank-for-your-online-global-payments-processes/">4 reasons why MTFX is better than your bank for your online global payments processes</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/5-important-steps-in-the-overseas-payment-process/">5 Important Steps in the Overseas Payment Process</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/pay-overseas-suppliers-in-foreign-currency/">The Benefits of Paying Overseas Suppliers in their Own Currency</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/best-way-to-transfer-money-to-a-foreign-bank-account/">Best Way to Transfer Money to a Foreign Bank Account</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/ensure-better-overseas-payment-processes-with-a-third-party-digital-platform/">Ensure Better Overseas Payment Processes with a Third-party Digital Platform</a></li></ul>

Collage of international small business owners, farmers, and vendors with currency symbols from around the world and a red 'PAID' stamp at the center, representing global vendor payments.

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Are you Paying your Vendors in their Local Currency - Blog MTFX

<img src="https://content.mtfxgroup.com/uploads/09_06_2021_a82060ba16.png" alt="Digital world map with glowing currency symbols (USD, EUR, GBP, etc.) cascading downward, representing global financial planning and strategy in a post-COVID business environment." srcset="/uploads/thumbnail_09_06_2021_a82060ba16.png 241w,/uploads/small_09_06_2021_a82060ba16.png 500w," sizes="100vw">Have you created your post-covid business plan? 5 steps to protect you from rebounding market risk.In a post-pandemic world, businesses must account for unplanned shifts in the FX market, especially at the beginning of a global economic recovery. Currently, every company in the world is being faced with the same question: What is going to happen to my business when the pandemic is over?Grocery stores, packaged goods suppliers, and specialized PPE manufacturers, just to name a few, have all experienced an unexpected boost in sales: Will that growth sustains? Hotels and airlines have experienced unprecedented halts in demand: How long will it take for their business to bounce back? Then you look at cinemas and theaters that are trying to envision how the pandemic will permanently shift the way consumers experience entertainment.When the pandemic ends, many companies will find that their business model is no longer feasible. How will your business cope?<h2>Ultimately, Planning for a Post-Pandemic World Means Answering Three Questions:</h2>1) How does your business really make money? 2) Who/what customer type do you depend on to drive your business during recovery? 3) What will customer behaviour look like after the pandemic so you can have better financial planning practices in place?Even though the pandemic is temporary, its impacts have created permanent structural shifts. To help shed some light on what to do in a post-pandemic world, follow these 5 steps from our market experts at MTFX.<h3>1. Ensure your Business has Access to Next-Generation Solutions to Keep your Business Current with Technology Shifts, Removing Any Payment Transfer Friction.</h3>Banks usually have less competitive foreign <a target="_blank" href="https://www.mtfxgroup.com/tools/live-exchange-rates/">currency exchange rates</a> than fintech due to their traditional banking systems. Fintech focuses on providing quick and easy <a target="_blank" href="https://www.mtfxgroup.com/transfer-money/">money transfers</a> while having the ability to provide low exchange rates and transfer options for every type and size of business. Fintechs are agile and can adapt to shifts in the marketplace quickly, thus, making them able to develop and launch innovative solutions on a dime, supporting a company’s expansion targets and the ability grow their transaction volume – something a bank cannot do easily.<h3>2. To Help Recoup Losses from the Pandemic, Implement a Full 360° Payments Solution with Direct Integrations into your ERP and AR Systems to Create Efficiencies and Save Money.</h3>Some fintech are making seamless integration to the next level. The team at MTFX is first to market with an all-in-one seamless solution that can offer your business a set of products and services that integrate directly into your business's ERP and AR systems. This ability removes the need for manual intervention or payment reconciliation, reducing both time and costs for finance department staff. With this integration, powered by AI, machine learning, and biometrics technologies, you can reduce the number of overall payment failures, which result from inaccurate data input, that your business experiences, giving you a single view on all your company’s financial needs, transactions, and cash flow for better and more accurate fiscal planning.<h3>3. Allow your Business to Grow Across Borders by Taking the Challenges Out of Opening and Managing Foreign Bank Accounts.</h3>New-age fintech solutions can reduce your business's FX exposure and improve your cash flow by having the ability to make payments and hold funds in local currencies that you can access at any time 24/7. Leaders in customer experience, like MTFX, can enable your business the ability to open and hold money in domestic <a target="_blank" href="https://www.mtfxgroup.com/business/global-payment-solutions/multi-currency-accounts/">multi-currency accounts</a> across multiple currency types, removing the complexity of trying to open and manage multiple bank accounts across borders so you can grow your business in any market you require.<h3>4. With Everyone Turning to Digital Alternatives Overnight, Ensure you have the Right Mix of Payment Choices in Place for your Vendors and your Customers.</h3>Agile fintech develops, both internally and through global network partnerships, an array of innovative payment solutions so you can provide your vendors and your end customers with payment choice and flexibility. This allows you to accept and provide many different payment types from customers as well as offer vendor-preferred payment types like pre-authorized debits, wires, EFTs, and credit cards. On top of this, fintech can also enable your business with next-generation digital payment solutions like mobile wallet payments through a simple API integration that banks and other third-party providers cannot offer.<h3>5. With the Economy Only Starting to Reopen, the Market will be Challenging to Manage. Implement FX Risk Management Strategies to Keep your Cash Flow Safe.</h3>Managing exposure to FX currency fluctuations is an additional level of due diligence any business owner needs to practice. Your cash flow is the lifeblood of your business, and you need to protect it from unfavorable shifts in the foreign exchange rate. Fintech can offer superior risk management solutions and hedging tools, compared to banks and financial institutions, including <a target="_blank" href="https://www.mtfxgroup.com/business/risk-management/forward-contracts/">forward contracts</a> and <a target="_blank" href="https://www.mtfxgroup.com/business/risk-management/market-orders/">market orders</a> that are customized specifically for your business needs.<h2>At MTFX, our Platform can Help your Business Rebound from the Impacts of COVID-19 and Protect you from Any Volatility in a Post-COVID World.</h2>Learn more about how a third-party payment platform can help you retain your local customers and expand your international business. Contact one of our market experts at MTFX and we will show you how foreign exchange currency risk management can protect your business while increasing profits.<a target="_blank" href="https://online.mtfxgroup.com/register/?source_page=have-you-created-a-post-covid-business-plan---mtfx-blog">Open an account</a>&nbsp;with MTFX today and start enjoying fast, cost-effective, and convenient international money transfers.&nbsp;Popular related articles; <ul><li><a target="_blank" href="https://www.mtfxgroup.com/post/transferring-money-overseas-what-you-need-to-know/">Transferring Money Overseas: What You Need to Know</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/international-money-transfers-to-foreign-countries/">International Money Transfers to Foreign Countries: What You Need to Know</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/are-you-a-multinational-then-you-should-have-a-strategic-fx-management-plan-in-place/">Are You A Multinational? Then You Should Have A Strategic FX Management Plan In Place</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/5-reasons-to-use-foreign-exchange-service/">5 Reasons to use a Foreign Exchange service for Currency Transfers</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/international-money-transfers-to-foreign-countries/">International Money Transfers to Foreign Countries: What You Need to Know</a></li></ul>

Digital world map with glowing currency symbols (USD, EUR, GBP, etc.) cascading downward, representing global financial planning and strategy in a post-COVID business environment.

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Have you Created a Post Covid Business Plan - MTFX Blog

<html><head></head><body><img src="https://content.mtfxgroup.com/uploads/03_06_2021_f3f4aabf5d.png" alt="Digital globe with interconnected networks and data icons, symbolizing global connectivity and the importance of strategic foreign exchange (FX) management for multinational businesses." srcset="/uploads/thumbnail_03_06_2021_f3f4aabf5d.png 241w,/uploads/small_03_06_2021_f3f4aabf5d.png 500w," sizes="100vw">When developing an up-to-date treasury management practice for your business in today’s climate you need to ensure your plan includes an international payment and currency risk management approach to be sure you protect your profits from exposure in the current volatile marketplace.At MTFX our innovative risk management solutions and <a target="_blank" href="https://www.mtfxgroup.com/business/risk-management/forward-contracts/">hedging tools</a> provide you with a proactive approach in order to help you better plan for your long-term financial ambitions. If you are a multinational -- or currently growing at a rate that will have you become one in the short term -- we can work with you to create a unique and customized solution to ensure you attain your growth targets.Whether you are managing a network of international subsidiaries, working with international suppliers or customers, or expanding your business to new markets, MTFX is your strategic choice to achieve your goals.<h2>The Power of FX Treasury Management Solutions &nbsp;</h2>As space continues to become digitized and demand for <a target="_blank" href="https://www.mtfxgroup.com/business/global-payment-solutions/international-payments/">international payments</a> increases, you will need to work with a strategic third-party platform provider that can provide your business with operational efficiencies, enhanced transfer transparency, and market insights in a way that a traditional bank or financial institution cannot offer, so you can efficiently navigate the ever-evolving nature of the payments landscape.<a target="_blank" href="https://www.mtfxgroup.com/business/multinationals/">Multinationals</a> today need to be as nimble as start-ups in order to be able to make a decision on a new partnership or alliance on the flip of a coin. As your global business increases in complexity and expands into new markets, it can be a challenge to maintain the visibility of assets and liabilities across multiple currencies, not to mention managing multiple payment systems with various compliance and regulation requirements.Your treasury management platform is the strategic command center for all your financial planning giving you certainty on your cash flow, liquidity levels, and both your payables and receivables. It is a necessary strategic tool that will help you always gauge the current state of your business. Integrating your international positions into your treasury management planning gives you additional perspective—a necessity in today’s competitive marketplace.<h2>The MTFX Solution for Treasury Risk Management</h2>MTFX offers your business customized solutions for treasury managers so they can better administer their global payments needs. Our strategic solutions and tools give you instant access to our global network of partnerships, along with our international licensing and compliance infrastructure, ensuring reach, data security, and efficiencies to support your expansion goals. Our team of market experts will work with you in order to tailor our hedging and risk management strategies for your business.<h2>With MTFX you will Gain Access to: &nbsp;</h2><ul><li><a target="_blank" href="https://www.mtfxgroup.com/">Competitive real-time FX rates</a> that are guaranteed to beat the bank across +140 different currencies, including exotic.</li><li>Innovative hedging tools and risk management strategies that add cost certainty to your business cash flow</li><li>Integrate automation technologies for beneficiary banking validation, bulk payment processing, and reporting and reconciliation functionality</li><li>Set up multi-currency accounts that provide you with total visibility of your funding balances across various currencies in one simple, easy-to-use portal</li><li>Enable direct integration into your business ERP and AP systems, removing the manual swivel chair processes and file uploads from alternative payment solutions</li><li>A streamlined ‘plug-and-play’ integration through financial APIs that remove any manual intervention from company staff</li><li>Our technology infrastructure is flexible and adaptable, allowing you access to as much—or as little—of our services, as you need as your business evolves and grows</li></ul><h2>MTFX Hedging Strategies will Protect your Business Across Borders &nbsp;</h2>Learn more about how our solutions can help you retain your local customers and expand your international business. Contact one of our market experts and we will show you how <a target="_blank" href="https://www.mtfxgroup.com/business/risk-management/forward-contracts/">foreign exchange currency risk management</a> strategies can protect your business while increasing profits.<a target="_blank" href="https://online.mtfxgroup.com/register/?source_page=are-you-a-multinational?-then-you-should-have-a-strategic-fx-management-plan-in-place">Register your account</a> with MTFX today to enjoy bank-beating rates and avoid currency risk with a strategic FX management plan.&nbsp;Popular related articles;<ul><li><a target="_blank" href="https://www.mtfxgroup.com/post/4-reasons-why-mtfx-is-better-than-your-bank-for-your-online-global-payments-processes/">4 reasons why MTFX is better than your bank.</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/5-important-steps-in-the-overseas-payment-process/">5 Important Steps in the Overseas Payment Process.</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/the-keys-to-managing-risk-in-volatile-markets/">The keys to managing risk in volatile markets.</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/transferring-money-overseas-what-you-need-to-know/">What do you need to know while transferring money?</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/currency-management-strategy-for-your-fx-rates-budget/">Why you require a new currency management strategy</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/have-you-created-a-post-covid-business-plan/">Have you Created a Post Covid Business Plan - MTFX Blog</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/the-vaccine-is-here-now-what-are-fintechs-the-new-normal/">The Vaccine is here. Now What? Are fintech’s ‘The New Normal’?</a></li></ul></body></html>

Digital globe with interconnected networks and data icons, symbolizing global connectivity and the importance of strategic foreign exchange (FX) management for multinational businesses.

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Are you a Multinational? Then you should have a Strategic FX Management Plan in Place

<html><head></head><body><img class="image_resized" style="width:100%;" src="https://content.mtfxgroup.com/uploads/05_05_22021_1dd8c03149.png" alt="Close-up of hands typing on a laptop keyboard, overlaid with digital currency symbols including the dollar, euro, yen, and pound, representing global foreign exchange transactions and digital FX platforms.">Are you still using your bank for your foreign exchange business? There is a more cost-effective alternative.Businesses are traditionally reliant on banks for their international payment needs and remain working with them due to the trust, security, and advisory services they provide. Even though banks and financial institutions have been the default over the years, they also come with a multitude of challenges -- especially when it comes to global payments as is it not a primary focus of their business.When analyzing your service offerings from your bank it can be hard to truly understand the costs of your FX conversions, creating a barrier for your business when it comes to growing your transaction volume across borders.When it comes down to it, working with institutions is expensive, and can expose your business to market volatility, and their lack of transparency in the transfer process creates data gaps that lead to the inability of you to manage your business's cash flow effectively.<h2>This is where MTFX Comes into Play</h2>MTFX’s full suite of solutions for domestic and international payments provides companies with more choice and flexibility on how to better manage their business.Through next-generation technologies and a sophisticated set of APIs, businesses can experience reduced costs, data transparency, speed to market, and the ability to offer the level of customer service and customization that their consumers are demanding from them.<h3>1. MTFX Provides Customization, Process Efficiency, and Solution Flexibility</h3>When you choose to partner with MTFX you gain the ability to work with a team of market experts with years of experience in the <a target="_blank" href="https://www.mtfxgroup.com/tools/live-exchange-rates/">foreign exchange</a> and <a target="_blank" href="https://www.mtfxgroup.com/business/global-payment-solutions/international-payments/">international payments</a> space. Our team will work with you to create customized solutions specifically tailored to your business needs.MTFX’s payment processing solutions are as easy as a plug-and-pay option through an API integration instantly enabling your business to accept payments from customers and pay suppliers in alternative and vendor-preferred methods in a matter of minutes around the globe.Our goal is to grow your business's transaction volume while at the same time enabling you to offer next-generation digital payment solutions and enhanced user experiences at the click of a button.<h3>2. MTFX Provides your Business Access to Local In-Country Payments with +100 Different Currencies</h3>MTFX was built to save your business money on <a target="_blank" href="https://www.mtfxgroup.com/transfer-money/">overseas transfers</a> while providing you low exchange rates and transfer options for every type of business. Our solutions reduce your business exposure and improve your cash flow by having the ability to make payments and hold funds in local currencies that you can access at any time, 24/7.With MTFX’s local in-country payments solution your business has the ability to open and hold money in domestic <a target="_blank" href="https://www.mtfxgroup.com/business/global-payment-solutions/multi-currency-accounts/">multi-currency accounts</a> across +100 currency types, including exotic, removing the complexity of trying to open and manage multiple bank accounts across borders and saving your business from paying high conversion and processing fees.<h3>3. MTFX Directly Integrates into your Company’s ERP System</h3>Doing business overseas can make accounting and finance management taxing. MTFX’s innovative payment solution enables direct integration into your business's ERP and AP systems, removing all the manual reconciliation work that is normally required to balance and record your overseas business transactions.MTFX’s international payout solution is compatible with all of the top ERP systems in the market including, Quickbooks, Oracle, SAP, Dynamics 365, and Sage, among others. This solution facilitates, through API automation, the generation of your payables as well as the settlement of your overseas business payments, all in one easy-to-use online portal so you can keep your business on the right track.<h3>4. MTFX Gives you Clear Visibility on your Transactions and your Cash Flow</h3>At MTFX our solutions are specifically developed to provide your business with a complete set of rich data so you can manage your customer's information more efficiently, removing the challenge of transfer payment failures resulting from inaccurate input or lack of beneficiary information.MTFX utilizes bank-level security measures to safeguard customer data and protect overseas business transactions so you can monitor and gain end-to-end transfer visibility in real-time allowing you to take more control of your business forecasting and cash flow.Making international money transfers with MTFX eliminates the costly fees traditionally incurred when working with large banks and FIs as our solutions will protect your business against market volatility with additional offerings of innovative risk management strategies that are more competitive than what the industry currently offers.<h2>MTFX is your Solution for your Online Global Payments Processes</h2>Banks are no longer able to provide your business a competitive offering when it comes to your international business needs. MTFX will meet the demands of your customers by providing options, transparency, customization, and an overall better user experience.Learn more about how our solutions can help you retain your local customers and expand your international business. Contact one of our market experts and we will show you how foreign exchange currency risk management strategies can protect your business while increasing profits.<a target="_blank" href="https://online.mtfxgroup.com/register/?source_page=still-using-a-bank-for-your-fx-business---blog-mtfx">Register your account</a> with MTFX today to enjoy bank-beating rates and exciting savings.&nbsp;Popular related articles;<ul><li><a target="_blank" href="https://www.mtfxgroup.com/post/4-reasons-why-mtfx-is-better-than-your-bank-for-your-online-global-payments-processes/">4 reasons why MTFX is better than your bank.</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/5-important-steps-in-the-overseas-payment-process/">5 Important Steps in the Overseas Payment Process.</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/the-keys-to-managing-risk-in-volatile-markets/">The keys to managing risk in volatile markets.</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/transferring-money-overseas-what-you-need-to-know/">What do you need to know while transferring money?</a></li><li><a target="_blank" href="https://www.mtfxgroup.com/post/currency-management-strategy-for-your-fx-rates-budget/">Why you require a new currency management strategy</a></li></ul></body></html>

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MTFX’s rates are fair and transparent, which can save you thousands on your currency transfers. The rate you receive is based on the interbank market rate and, because we transact large volumes, we pass on the savings to our clients. Compare our rates to those of your bank and see what the difference really is. you will be surprised at how much you can save.

Why are MTFX’s rates so competitive?

We maintain a low, standard transfer fee of $15 for transactions less than $10,000. Any transactions over $10,000 will have no fees. Compare this fee with that of your bank, which will typically charge you $40-50 in transfer fees.

What does MTFX charge to send money transfers?

Dealing with MTFX is easy. Simply register with us online for instantaneous access to our online dealing platform. After you complete your registration, an MTFX currency specialist will call you to discuss your transfer and make sure the platform is set up and customized to meet your needs. For more information about our online platform, <a href="https://www.mtfxgroup.com/transfer-money/?_ga=2.192877219.829883386.1726729097-1644942358.1714661560">click here</a><a href="https://beta.mtfxgroup.com/transfer-money/">.</a> You can book your exchange rates with us 24/7, manage your beneficiaries, and send funds seamlessly from any device. We have made it that simple!

What is the process of working with MTFX?

Yes, MTFX supports both personal and business transfers, providing tailored solutions for a variety of transfer needs.

What things to consider when buying overseas property?

Yes, creating an MTFX account is quick and easy, giving you access to secure, efficient transfer options and additional services.

What countries does MTFX support for property purchase transfers?

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Top 10 Places for Canadians Retiring in the US

<figure class="image"><img src="https://content.mtfxgroup.com/uploads/7_Reasons_to_Use_a_Currency_Specialist_to_Send_Money_Abroad_7608c67b6a.jpg" alt="A businesswoman sitting at her desk, holding a phone to her ear while gesturing with her hand, with a laptop and documents on the table in a bright office setting."></figure>Whether you’re sending money to family overseas, paying for a vacation rental, or making <a target="_blank" href="https://www.mtfxgroup.com/post/a-complete-guide-to-b2b-international-transfer/">B2B international payments</a>, international currency transfers can feel overwhelming. High fees, poor rates, and long wait times can turn a simple transaction into a frustrating experience. For Canadians, especially those sending larger sums or managing frequent payments, finding the best way to <a target="_blank" href="https://www.mtfxgroup.com/tools/mtfx-rate-calculator/?from=cad&amp;to=usd">convert currency</a> is critical to saving both time and money.This is where a currency specialist comes in. Unlike traditional banks, specialists focus solely on providing foreign currency exchange services, offering better rates, lower fees, and faster transaction times. They make it easy to send money abroad without the hassle, whether it’s for personal or business needs. If you’ve been relying on banks without a second thought, it’s time to consider how an online currency specialist can transform how you manage your global payments.<h2>Reason 1: Get the best exchange rate</h2>One of the biggest advantages of using a currency specialist is access to the best exchange rates. Unlike banks, which often include a high markup on their rates, currency specialists focus on providing competitive rates tailored to your needs. This means you get more value for every dollar you exchange.For example, if you’re a Canadian sending money to Europe for a business invoice or looking to <a target="_blank" href="https://www.mtfxgroup.com/post/making-a-large-overseas-purchase-look-for-a-smarter-alternative-to-your-bank/" target="_blank" rel="noopener noreferrer">transfer money for a large overseas purchase</a>, even a small difference in the <a target="_blank" href="https://www.mtfxgroup.com/tools/live-exchange-rates/">foreign currency exchange rate</a> can save you hundreds of dollars. Specialists track the currency market today in real-time, ensuring you always receive a rate that beats what traditional banks or generic platforms offer. Whether you’re sending payments for personal or business purposes, securing the best money exchange rate ensures your funds go further and your costs stay under control.<h2>Reason 2: Save money on fees</h2>When it comes to foreign currency exchange, hidden fees can quickly add up, especially if you’re making frequent or high-value transfers. Traditional banks often charge steep transaction fees, conversion fees, and additional markups, making it an expensive way to send payments or manage international transactions.Currency specialists, on the other hand, help you minimize or eliminate <a target="_blank" href="https://www.mtfxgroup.com/post/how-to-exchange-currency-and-save-money-on-fees/" target="_blank" rel="noopener noreferrer">unnecessary costs on currency exchange</a>. By offering transparent pricing and tailored hedging solutions, they ensure you only pay for what you need. Through effective <a target="_blank" href="https://www.mtfxgroup.com/post/4-steps-for-an-effective-hedging-strategy/">currency hedging strategies</a>, they help safeguard your finances and maximize savings. Whether you’re looking for the best place to transfer currency for a one-time transaction or need ongoing support for regular payments, specialists help you avoid the high cost of exchanging currency while providing the best currency exchange services. The savings can be substantial, especially when sending a large amount of money overseas or managing recurring business payments.&nbsp;<figure class="image"><a target="_blank" href="https://www.mtfxgroup.com/overseas-transfers/?source=ol&amp;from=cad&amp;to=usd"><img src="https://content.mtfxgroup.com/uploads/Get_Started_1200_x_500_px_1200_x_300_px_14_cff7246b66_2c69dacd68_9233ea313c.png" alt="Promotional banner with the text 'Bank-beating exchange rates with no transfer fees and expert support' and a call-to-action button labeled 'Get a Quote' on a sleek orange and grey design background."></a></figure>&nbsp;<h2>Reason 3: Access to expert guidance</h2>Dealing with the complexities of <a target="_blank" href="https://www.mtfxgroup.com/tools/historical-currency-exchange-rates/">foreign currency exchange fluctuations</a> can be challenging. This is where the expertise of a currency specialist shines. Unlike banks or generic online platforms, specialists offer personalized support and insights into today's currency market, helping you make informed decisions.For instance, if you're unsure when to send money abroad to get the best exchange rate, a specialist can provide tailored advice based on market trends and your financial goals. Whether it's timing your transfers, understanding hedging techniques, or exploring the best way to convert currency, their expertise ensures your transactions are cost-effective and strategically aligned with your needs. This personalized guidance is invaluable for both individuals and businesses, especially those dealing with large sums or frequent international currency transfers.<h2>Reason 4: Secure and reliable transactions</h2>When you're sending a large amount of money overseas, security is non-negotiable. A currency specialist ensures your transactions are handled with the highest levels of protection, offering a secure and reliable alternative to traditional banks and generic online platforms. From encryption technology to stringent compliance with financial regulations, specialists prioritize safeguarding your funds and sensitive information.For businesses and individuals alike, the peace of mind that comes with a secure foreign currency exchange process is invaluable. Specialists also provide tracking tools so you know exactly where your money is at every stage of the transfer. Whether you're managing an international currency transfer for business or personal purposes, working with a trusted provider eliminates the risks of delays, fraud, or errors that can occur with less specialized services.<h2>Reason 5: Faster transaction times</h2>Time is often a critical factor when it comes to sending payments internationally. Traditional banks can take several days—or even weeks—to process international currency transfers, leaving you waiting anxiously, especially for urgent transactions. A currency specialist, however, streamlines the process, ensuring faster delivery of funds without sacrificing security or accuracy.Whether you’re a business paying overseas suppliers or an individual sending money abroad for personal reasons, the speed of the transfer matters. Specialists use efficient systems and networks to process transactions quickly, often completing them in as little as 24 hours. This makes them the best place to transfer currency when time-sensitive payments are involved. With quicker turnaround times, you can meet deadlines, avoid delays, and gain the confidence that your funds will reach their destination promptly.<h2>Reason 6: Specialized tools for businesses</h2>For businesses engaged in regular foreign currency exchange, having access to advanced tools can make all the difference in managing costs and risks. Currency specialists offer tailored solutions like forward contracts, market orders, and multi-currency accounts to streamline payments and optimize your international financial operations.For example, forward contracts allow businesses to lock in the best exchange rate for future transactions, protecting against market volatility. Market orders let you set specific exchange rate targets, ensuring your transfers only go through when the rate meets your goals. These tools are invaluable for companies that regularly send large amounts of money overseas or handle recurring payments in multiple currencies. By offering flexible and efficient currency exchange services, specialists simplify the complexities of global transactions and help businesses achieve greater financial stability.<h2>Reason 7: Flexibility and convenience</h2>A currency specialist provides unmatched flexibility and convenience for both individuals and businesses. With user-friendly platforms and services tailored to your unique needs, they make it easy to send money abroad, manage multiple currencies, and track your transactions—all from the comfort of your home or office.For instance, many specialists offer 24/7 online currency exchange platforms, allowing you to initiate transfers anytime, monitor exchange rates, and even automate recurring payments. This level of convenience is especially beneficial for businesses with frequent international currency transfers or individuals planning travel and needing foreign currency exchange at competitive rates. Specialists also provide options like same-day transfers or scheduled payments, making them the best place to transfer currency when you're looking for solutions that fit seamlessly into your lifestyle or business operations.&nbsp;<a target="_blank" href="https://online.mtfxgroup.com/register/?source_page=7-reasons-to-use-a-currency-specialist-to-send-money-abroad"><img src="https://content.mtfxgroup.com/uploads/Copy_of_Green_and_Blue_Thin_Geometric_Lines_Finance_Report_Finance_Presentation_2024_11_19_T142253_202_ceb85e7c51_e655c566e8.png" alt="Promotional banner featuring a man in glasses talking on the phone while working on a laptop, with the text 'Sending money made easier' and highlights MTFX's benefits."></a>&nbsp;<h2>MTFX: Your ideal online currency specialist</h2>MTFX is the perfect partner for Canadians seeking reliable, cost-effective foreign currency exchange services. Offering some of the best exchange rates and low or zero transfer fees, MTFX ensures you save money while maximizing the value of every transaction. Whether you're a business managing international currency transfers or an individual sending money abroad, MTFX provides a seamless and transparent experience tailored to your needs.With advanced tools like forward contracts, market orders, and multi-currency accounts, MTFX empowers users to take control of their global payments. The 24/7 online currency exchange platform offers flexibility and convenience, making it easy to manage transactions anytime, anywhere. Fast, secure, and backed by expert guidance, MTFX stands out as the best place to transfer currency, ensuring smooth and stress-free international payments for individuals and businesses.<a target="_blank" href="https://online.mtfxgroup.com/register/?source_page=7-reasons-to-use-a-currency-specialist-to-send-money-abroad">Create an account on MTFX</a> and get bank-beating rates to transfer money abroad.&nbsp;<hr><h2>FAQs</h2><h4>1. What is the best way to convert currency for international payments?</h4>The best way to convert currency for international payments is by using a reliable currency exchange service that offers competitive rates and low fees. Specialists like MTFX provide tools to streamline your international currency transfers, ensuring cost savings and faster processing compared to banks.<h4>2. Where is the best place to transfer currency for international payments?</h4>The best place to transfer currency is with a dedicated currency specialist offering tailored services for individuals and businesses. These providers focus on foreign currency exchange services and often deliver the best exchange rates and reduced fees, making them ideal for frequent transfers or high-value transactions.<h4>3. How do I find the best exchange rate for sending money abroad?</h4>To get the best exchange rate, it’s important to compare rates from banks and currency specialists. Online platforms often display the currency market today, giving you real-time insights into when to initiate your foreign currency exchange to maximize savings.<h4>4. What are the benefits of using online currency exchange platforms?</h4>Online currency exchange platforms offer convenience, speed, and transparency. They allow you to initiate and track international currency transfers anytime, often with better rates and lower fees than traditional banks.<h4>5. How can I save on the cost of exchanging currency for travel?</h4>To minimize the cost of exchanging currency for travel, consider using travel currency exchange services from specialists who offer favourable rates. Avoid airport kiosks or last-minute exchanges, which typically have higher fees and poor rates.<h4>6. Is it safe to send large amounts of money overseas?</h4>Yes, it’s safe to send large amounts of money overseas when using a trusted provider with robust security protocols. Specialists ensure compliance with regulations and offer secure platforms for managing foreign currency exchange transactions.<h4>7. Can I send payments internationally at any time?</h4>Yes, most online currency exchange platforms allow you to send payments 24/7, making it convenient to initiate international currency transfers whenever needed, whether for personal or business purposes.<h4>8. What factors affect the cost of foreign currency buying?</h4>The cost of foreign currency buying depends on the exchange rate, transfer fees, and the amount being exchanged. Using a currency specialist ensures better rates and lower fees, helping you save on foreign currency exchange services.<h4>9. How does a currency specialist offer the best money exchange?</h4>Currency specialists focus on providing the best money exchange by offering competitive rates, low fees, and personalized advice. They simplify sending money abroad, making them the go-to choice for individuals and businesses.<h4>10. How can businesses benefit from currency exchange services?</h4>Businesses benefit from currency exchange services by gaining access to tools like forward contracts and multi-currency accounts. These services help lock in the best exchange rates and streamline international currency transfers, saving time and money.

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7 Reasons to Use a Currency Specialist to Send Money Abroad

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