Guest Blog - Taxback International is delighted to team up with our sister company TransferMate; giving you cost-effective, quick foreign currency transactions.
Do you worry about having a secure payment method for paying and receiving overseas invoices? When you do transfer money overseas, do you know exactly where it goes?
As your business grows, additional payments need to be made, such as staff payroll and expenses for teams operating abroad, or hiring vendors in different countries. Also, expanding the provision of services and products across a wider market all become a critical component of your operations.
The Global Remittance Market was estimated to be $575 billion in 2016, and to reach $615 billion by 2018 (The World Bank). Millions of business to business transactions are conducted overseas every day, with many companies incurring high costs due to fluctuating currency exchange rates, international wire fees, as well as dealing in non-secure payments with foreign banks.
Taxback International is delighted to present to you our sister company TransferMate; the International Payments Solution facilitating automated, cost-effective, quick foreign currency transactions. TransferMate owns the full end to end process in handling international foreign currency transactions, simplifying payables and receivables and has processed in excess of $10 billion in transfers to date. In addition to a unique technology platform, this TransferMate solution has been recognised as having one of the widest global regulatory footprints.
Utilising this extensive global regulatory framework and banking network (over 200 bank accounts), TransferMate offers a closed loop solution for international payables and receivables, spanning New Zealand, Australia, Europe, Canada and 49 States across America.
As one of TransferMate’s solutions, they offer an alternative way of mitigating against currency risk, through a Variable Flexible Spot Contract. In addition, more clients are utilising TransferMate’s receivables solution for collecting overseas payments, bringing transparency, efficiency and security to clients’ payments due. This reduces time chasing payments while offering their customers a safe and simple way to pay.
TransferMate can also integrate fully with your existing accounting and business process software, through their open API. They already have existing integrations with world leading accountancy software providers Xero, Quickbooks, Netsuite, SAP and more.
To learn more about TransferMate’s solutions, please contact firstname.lastname@example.org or call on +353 (0)1 635 3700
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