Doing Business Overseas? Here’s How MTFX Helps Canadian Businesses Expand their Borders

In today’s global economy, many Canadian businesses see new horizons beyond local markets. The potential rewards are significant- from new customer bases to diversified supply chains. But running a business overseas also brings financial complexities, especially when managing international business payments, currency volatility, and regulatory compliance.

For over 30 years, MTFX has helped Canadian businesses expand business internationally. Our innovative solutions- from supplier payments to multi-currency receivables and risk management- make it easier to scale operations worldwide without sacrificing margins, cash flow, or efficiency. Read our guide to learn how MTFX supports international growth and why thousands of Canadian businesses trust MTFX as their global payments and FX partner.

Why Canadian businesses are expanding overseas

Global markets are more open and connected than ever before. Companies eager to scale a business overseas benefit from:

• Access to new customers
• Lower production costs
• More diverse supply chains
• Round-the-clock revenue via e-commerce

Yet even the best strategies can run into obstacles like high banking fees, slow payment processes, and unpredictable currency swings. For businesses that want to scale globally, working with an experienced partner like MTFX can make all the difference. We can streamline your global business payments so that you can focus on your growth.

Meet MTFX: your partner for global expansion

Founded in 1996, MTFX is a Canadian-owned, FINTRAC-regulated financial services provider specializing in foreign exchange and B2B money transfer solutions. Thousands of clients trust MTFX to handle complex international transactions.

MTFX is:

• Licensed and compliant under Canadian financial regulations
• Capable of sending funds to 190+ countries in 50+ currencies
• Partnered with businesses ranging from manufacturers to tech firms

Alongside our transaction services, MTFX provides daily market analysis and an FX forecast to help businesses plan foreign currency transactions effectively.

Pay overseas suppliers efficiently

Paying suppliers abroad is a fundamental aspect of running a business overseas. MTFX streamlines these payments, providing better exchange rates than banks and faster delivery times.

Benefits include:

• Lower FX spreads than traditional banks
• Transparent pricing with no hidden fees
• Same-day or next-day payments to over 190 countries
• Bulk payment capabilities for multiple vendors
• Automated recurring payments for long-term contracts

Businesses working with MTFX often discover it’s the cheapest way for businesses to send money overseas, crucial for protecting profit margins during global expansion.

Collect marketplace payments in foreign currencies

Businesses selling on Amazon, Shopify, Etsy, Alibaba, or their own sites often face challenges collecting payments in local currencies and managing unpredictable exchange rates. MTFX makes it easier for Canadian ecommerce businesses to expand internationally by offering virtual accounts for seamless local collection and smarter currency conversion.

MTFX offers:

• Virtual IBANs in currencies like USD, EUR, GBP, AUD, and more
• Integration with major online marketplaces for smoother cash flow
• Faster access to funds compared to standard marketplace payout times
• Flexibility to convert funds when exchange rates are favourable

One of the biggest advantages MTFX provides is access to live exchange rates, allowing businesses to monitor and choose the best times to convert foreign revenues into Canadian dollars. This real-time visibility helps companies avoid poor conversion rates imposed by marketplaces and instead capture more value from their global sales. Businesses dealing with currency pairs like CAD to USD, CAD to GBP, and others can use live rates to make timely, data-driven decisions and protect their profit margins.

Explore the live exchange rates below to see how you can maximize returns from your international marketplace sales.

Manage currency volatility with confidence

Currency swings can quickly eat into profits for businesses looking to scale internationally. MTFX equips businesses with FX tools and expert insights to protect their bottom line.

Key tools include:

• Lock in rates for future transactions
• Rate alerts to capture market opportunities
• Currency wallets to hold foreign funds until market conditions improve
• Personalized support from currency specialists

With live data, businesses can also track live exchange rates for major pairs like CAD to USD, GBP, EUR, and others, ensuring they make informed decisions.

Automate payables and global payroll

Manual cross-border payments are time-consuming and error-prone. For businesses seeking efficient b2b payments, MTFX provides automation tools that reduce risk and save time.

Automation features include:

• Bulk upload capabilities for mass payments
• Customizable approval workflows
• Scheduled payments for regular suppliers or payroll
• API integrations with ERP and accounting software

This automation is essential for businesses pursuing streamlined international business payments and scaling operations without additional headcount.

Manage receivables and cash flow for scaling internationally

Delayed payments from overseas clients can cause serious cash flow strain. MTFX’s services help businesses committed to scaling internationally gain control and predictability.

Receivables tools include:

• Virtual foreign currency accounts for local client payments
• Automatic reconciliation of payments to invoices
• Real-time dashboards showing balances across currencies
• The ability to time currency conversions for optimal rates

This flexibility is crucial for businesses managing global cash flow, especially those sending or receiving payments from markets like the US, UK, Australia, and others.

Why businesses trust MTFX for overseas business growth

Trust is critical when transferring significant sums across borders. MTFX offers Canadian businesses confidence with:

• FINTRAC regulation and Canadian compliance
• Over three decades of industry experience
• Dedicated human support- not just automated systems
• Robust cybersecurity and bank-level encryption
• Competitive rates without hidden fees

Businesses serious about global expansion rely on MTFX for both expertise and cost efficiency.

MTFX vs. banks: a cost comparison

Ready to expand your business internationally?

Whether you’re just exploring new markets or already managing a growing business overseas, MTFX can help you:

• Pay overseas suppliers cost-effectively
• Collect global marketplace payments efficiently
• Protect your margins from FX swings
• Automate global payables and receivables
• Achieve long-term global expansion

Final thoughts: your partner for scaling globally

The world offers endless opportunities for Canadian businesses willing to look beyond domestic borders. Don’t let outdated banking processes, inflated fees, or volatile currency markets hinder your plans to expand your business internationally.

With MTFX’s technology, competitive pricing, and expert insights, businesses can handle international payments confidently, protect margins, and pursue scaling internationally without unnecessary obstacles. For companies focused on efficiency and sustainability, MTFX is a reliable partner to support every step of their global journey. Connect with MTFX today to start scaling your business overseas with confidence.

FAQs

1. Is MTFX safe for large business transfers overseas?

Yes, MTFX is fully FINTRAC-regulated and trusted for high-value business money transfer services for companies pursuing global expansion.

2. Can I automate both payments and collections for my business overseas?

Absolutely. MTFX offers integrated solutions for streamlined international business payments and collections, vital for businesses wanting to scale internationally.

3. What’s the cheapest way for businesses to send money overseas?

Many businesses find MTFX is the cheapest way for businesses to transfer money overseas, thanks to low margins and fewer hidden fees.

4. How quickly can MTFX process international business payments?

MTFX can often complete transfers same-day or next-day- critical for businesses involved in global expansion and tight supply chain timelines.

5. Can MTFX help manage FX risks for businesses overseas?

Absolutely. MTFX provides rate alerts and insights from currency specialists to help protect businesses during global expansion.

6. Does MTFX support transactions in major global currencies?

Yes, MTFX supports over 50 currencies, allowing businesses to handle international business payments in markets worldwide.

7. Can MTFX help forecast currency trends for business decisions?

Yes, MTFX offers an daily and monthly FX forecast that helps businesses anticipate market changes and plan strategic moves.

8. Does MTFX charge hidden fees for FX transactions?

No, MTFX operates with transparent pricing, ensuring businesses pursuing efficient B2B payments know exactly what they’re paying.

9. How does MTFX secure competitive exchange rates for businesses?

MTFX continuously monitors the market and offers tight spreads, helping businesses secure better rates than traditional banks.

10. Can MTFX help businesses sending money to places like the US, UK, Australia, or others?

Yes, MTFX specializes in helping Canadian businesses transfer money to the US, UK, Australia, or others, ensuring smooth global transactions.

Connect with MTFX today to start scaling your business overseas with confidence.