As a marketplace, there’s nothing more exhilarating than the possibility of expanding into a new country or region. Imagine the new pool of talented freelancers and sellers you can connect with your clients all over the world! Still, the process of creating a foothold in a new market can be daunting. A few of the challenges that await any marketplace looking to operate in a new country include learning how best to adapt to the local business practices, languages and currencies. That’s a lot to manage, and it's only part of the equation!

One of the key challenges is how to successfully recruit freelancers and sellers to your platform. While your marketplace will certainly attract freelancers and sellers, in a crowded field, what advantage can you give your marketplace so that you attract the best freelancers and the best sellers? Competition for the best talent can be fierce and having a premier payouts offering is a strategic advantage that some marketplaces overlook. Don’t make that mistake!

When you’re looking to connect freelancers or sellers in a new region with your platform and your valued clients all around the globe, it’s critical to put yourself in your payout recipients’ shoes. If you were a freelancer or seller considering offering services or goods on a new platform, what would your questions be? You might wonder what kind of rates or prices you could expect to make. You might question what types of clients the platform has, and whether or not your services or products align with what those clients need. And finally, you would certainly want to know how you will be paid.

For your freelancers and sellers, selling products or services on a marketplace is their livelihood, and they need assurance that doing business on your marketplace will be profitable and worth their time and effort. If you were in your payout recipients’ shoes, how would you want to be paid? Well, it would probably be a method that’s in line with what the way you’re already accustomed to getting paid. Do you get paid by direct deposit to your bank account? Many people do. And – no surprise -- many freelancers and sellers prefer being paid that way, too.

That’s where Transpay’s Local Bank Transfers come in. In addition to marketplaces, Local Bank Transfers can be used by a wide range of businesses, from payroll companies who pay out employees to publishers who pay out their affiliates. Whether your business is paying sellers, freelancers, affiliates or individuals for services or goods purchased from a global marketplace, Local Bank Transfers are an essential part of a competitive payouts offering. Contact a Transpay Local Bank Transfer specialist today to learn how to put Local Bank Transfers to work for you.

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