Has your business been looking to globally expand its partner base? In a new digital global economy where technology is connecting once-distant societies, the opportunity is more accessible than ever before.
The internet has been creating an ever-expanding avenue for eCommerce marketplaces. Due to the large operational infrastructures of companies like Amazon, Etsy, and eBay, smaller independent sellers have been able to create a generous financial opportunity through their increase in visibility, guaranteed receipt of payment, and access to a global market.
The pathway has been paved for global expansion. Now what?
First, your business must navigate through a fragmented and complex cross-border payment industry and many diverse choices exist for sending payouts. Whether you’re sending payouts to global suppliers, remote workers, or business partners across various countries and currencies, the payout pains can quickly pile up.
Consumer experience is key and each method comes with its share of pros and cons. Data control is paramount to business growth and regulatory compliance, the incumbent bank wires and checks carry slow settlement times and poor exchanges rates, newer FinTech alternatives have been known to lack interoperability with one another, and speed can often be prioritized over security. At the same time, both banks and FinTechs are not without high transaction costs, which the World Bank has estimated to be able to reach as high as 10.9 percent of the principal for cross-border account-to-account transfers. Meanwhile, a lack of transparency into what an enterprise actually pays out can hurt accurate P&L forecasting and disadvantage the end recipient.
Whether your business is expanding overseas for the first time or entering a new market with different conditions, listen to the webinar of the year with Peter Shore, General Manager of Transpay and Karen Webster, CEO of PYMNTS.com to learn about the five key questions to consider when selecting your international payouts provider.
In this webinar, you'll learn all about:
- Payout methods available today
- Geographical reach
- Pricing & Transparency
- Risk & Compliance