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We all know that fintech in the international payments space is a dime a dozen and even though they are preferred to banks and financial institutions due to their speed to market and flexibility, there are only a few that have seamless integration, can really save you and your business money, while at the same time offering an all-in-one solution to satisfy all of your businesses international payments needs.
When businesses turn to fintech they usually have to partner with multiple solution providers to ensure they have all their needs met, and this can become cumbersome, driving businesses to revert back to working with banks simply due to lack of management and complexity of their day-to-day business, even though, in the end, it costs them more. The importance of the user experience and ease of use when integrating a third-party platform provider is just as important as saving costs.
On top of this, not only do businesses sometimes have to integrate multiple solution providers, in some cases transaction fees are removed but are made up on the back end being included within the marginal spread of the foreign exchange rate. Not all solution providers have the capacity of network partners in the category to be able to offer their customers competitive foreign exchange rates, leaving businesses exposed to market volatility which tightens cash flow.
When it comes to working with a third-party platform provider for your business, work with a partner that puts your business's needs first and provides an all-in-one solution that protects your business from market volatility.
Banks usually have less competitive foreign currency exchange rates. They employ what is known as the mid-market rate in trading with other banks. The mid-market rate is not a rate they disclose or offer to customers.
At MTFX, due to our over 25 years of experience in the market building our network, we can offer better than mid-market rates to our customers across +140 different countries. The speed and ease of use of our money transfer solutions allow our customers to settle money faster while saving up to 5% compared to what the banks can offer, ensuring that payments to your cross-border suppliers and customers arrive on time, freeing up business capital.
MTFX’s innovative solutions for both international and domestic payments are the first in the category and enable customers the ability to grow their transaction volume. MTFX’s technologies, powered by AI, machine learning, and biometrics reduce the number of payment failures, which result from inaccurate data input.
Our payment solutions offer choice and flexibility for customers and enable them the ability to accept many different payment types from their customers as well as offer vendor-preferred payment types like; pre-authorized debits, wires, EFTs, and credit cards, and also enable customers with next-generation digital payment solutions like mobile wallet payments through a simple API integration that banks and other third-party providers can’t offer.
Our innovative tech solutions are one of the only in the market that remove the need for manual intervention or payment reconciliation with an all-in-one solution set that has direct international payment integration into businesses' ERP and AR systems.
It was built to save your business money on overseas transfers while providing you with low exchange rates and transfer options for every type of business. Our team of market experts reduces your business exposure and improves 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.
MTFX can enable your business the ability to open and hold money in domestic multi-currency accounts across multiple currency types, removing the complexity of trying to open and manage multiple bank accounts across borders.
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 FX exchange.
MTFX has developed superior risk management solutions and hedging tools including forward contracts and market orders that are customized for businesses of all sizes. We offer more competitive global pricing for your business to leverage so you can ensure you are making payment transfers when foreign exchange rates are optimal.
On top of this, at MTFX we take compliance seriously. Our Policies and verification procedures for KYC, fraud, sanction screening, and anti-money laundering activities are icon-clad and surpass industry standards.
Our next-generation technologies provide our customers with bank-level security to ensure that your overseas business is safe and protected so you can focus on growing your business across the globe.
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.
Open an account with MTFX today and start enjoying fast, cost-effective, and convenient international money transfers.
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