As the year comes to an end, Transpay wanted to take the time out to show the top trends of 2018. It is with these trends, that Local Bank Transfers will continue to grow and prosper as the top payout solution for businesses around the world.

 

jerry-kiesewetter-182712-unsplash

 

Trend 1
Banks are Collaborators, Not Competitors

Previously considered threatening competition, banks are the glue that hold Local Bank Transfers together. Money is transferred from a sender's business bank account in their country to local payout partners in other countries. They are built on the understanding that their needs to be a combined effort between both the bank and the payment's specialist. That way, when the time comes, a payment specialist takes on the hard work including compliance, regulation and fraud. This protection serves you and the sender the best way possible. Collaborating together will get your business that much closer to the finish line.

 

Trend 2
The Surge of Emerging Markets

Each year, more and more businesses are choosing to globally expand their presence. And, with 98% agreeing that a global presence will be critical to having a relevant brand in 2025, it’s easy to see why they are jumping on the bandwagon. Expanding from local, familiar markets to the global marketplace gives expanding businesses access to a wider range of clients, fresh talent, and greater opportunities. Emerging markets are changing the landscape of the world’s economy right before our very eyes. So much so, in fact, that the BRICS account for nearly a quarter of the world’s economy today.

 

Trend 3
Security is Predominant

Earning a profit is nothing if your business goes down due to a low concern of security. When making payouts, it’s incredibly important to protect your business. Financial crime is unfortunately very common all over the world, including international sanctions, money laundering, and PEPs (Politically Exposed Person). More and more businesses are coming to understand the importance of choosing a Local Bank Transfer solution that ensure your payouts are compliant, secure, and safe. This can be done through an in-house compliance operations team, 24/7 monitoring of fraudulent activity, and comprehensive sanction screening.

 
Trend 4
Payouts as an Experience

When businesses are continuously jumping over hurdles to simply pay out their vendors, sellers, and recipients, it makes it harder and harder to continue the process. Global payout solutions that offer Local Bank Transfers are looking at payouts as more of an experience, rather than something that needs to be done. This way, both recipients and senders are happy in the end process and they both can continue to have a professional relationship with one another.

 

Download Our Guide

Article Categories:
Related articles
Local Bank Transfers

Parallel Tracks: New York City’s Subway and the Global Banking System

Anyone who has traveled by subway in New York City is well aware that the system is in desperate need of a major update. In fact, some subway trains are still running on...

Paying Smarter: Questions to Ask a Potential Payouts Provider

How can you ensure you’re making the right choice when it comes to a payouts provider for your global business? Here, we share a series of questions that will help you get...

Local Bank Transfers

Class is in Session! Take Your Payouts Expertise to the Next Level with Transpay’s New “Ultimate Guide”

Local Bank Transfers

Index: India, Bangladesh and Pakistan Supply Most of the World’s Online Labor

Subscribe to the latest updates on Sending Payouts.

Pay by API

Automate Local Bank Transfers Worldwide

Learn More
Pay by Web

Send Local Bank Transfers Online

Learn More
Get Paid

Receive Local Bank Transfers from Your US-Based Clients

Learn More