PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Money Transfer Services for Corporate Clients

By Steve Murphy
June 2, 2017
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

 One of the by-products of increasing adoption of e-payments across the US business landscape (despite the continued dominant but declining presence of checks), is that businesses become more aware of alternatives. Historically one of the most expensive payment transactions for businesses is cross border, since it has been fairly standard practice to utilize bank wire transfers, given a general lack of awareness or trust in alternatives. Person-to-person remittance has been the real money transfer cash cow, but certainly the Western Union Business Solutions acquisition of Travelex a few years back (essentially for the foreign currency invoiced payments expertise) and the recently announced Fleetcor intention to acquire Cambridge Global Payments help to reinforce the growing B2B profile in cross border.

The truth is that the main reason for the increasing popularity of the money transfer business lies in awareness. It’s not that the need for exchanging currency or sending it abroad has substantially picked up in the last few years, it’s the mere fact more and more clients are aware of the exorbitant fees they are paying banks to transfer money abroad, as well as corporate clients aware of the importance of foreign currency management for retail.

So this piece does a nice job of summarizing some of the service and process differences that businesses are recognizing and should entertain when considering usage of the money transfer capabilities. It also provides a list of ten tips that help potential users to differentiate between ‘fly-by-night’ operations versus the secure, high quality capabilities and safeguards that need to be considered when switching from a direct bank cross border payment method, one of which follows:

 

Using a foreign exchange provider rather than your bank requires funding the transfer before it goes through. You can do so by a debit card (smaller transfers) or move the funds to a segregated bank account (domestically).

Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group

Read the full story here

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: Commercial Payments

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    visa mastercard settlement

    Why Walmart Is Taking the Lead Against the Visa and Mastercard Settlement

    December 18, 2025
    commercial banking onboarding

    The Biggest Bottleneck in Commercial Banking? Onboarding

    December 17, 2025
    Amazon, Visa, and the UK: Credit Card Retail Wars and My Rewards, Amazon Pay cash load

    Trouble at Home: A Second Flop in Credit Card Rewards

    December 16, 2025
    mastercard merchant

    Payments Simplicity Is Still Key for Most Shoppers

    December 15, 2025
    cross-border tokenized deposits

    Ant International and HSBC Pilot Cross-Border Tokenized Deposit Transfers on Swift

    December 12, 2025
    Fiserv stablecoin

    Three Small Business Trends That Banks Can Hop On in 2026

    December 11, 2025
    echeck

    Beyond Paper: Why More Businesses Are Turning to eChecks

    December 10, 2025
    metal cards

    Leveraging Metal Cards to Attract High-Value Customers

    December 9, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result