International Business Payments: the obstacles and the options International Business Payments: the obstacles and the options International payments innovation is here. Complete the form to get your free best practice guide. Instead, international payments are tricky, expensive, and slow.
Worst still, you never know the exact cost of an international payment until the transaction is complete. So, your suppliers get nasty surprises and your obstacles in options management is based on guesswork.
For domestic payments, this has all been solved.
But the situation for cross-border payments is far more complex and expensive. Business has never been so international. And that single number can only be an estimate, because it hides a myriad of fees and opaque FX rates applied by the banks processing the payments.
Until now, there have only been two options for making international payments. This article summarizes the two standard ones and introduces you to a third and we think much, much better way.
Regional integration among developing countries: opportunities, obstacles and options
Choosing the right option for making international business payments The reasons for paying someone overseas are pretty standard: Settling invoices for overseas suppliers or customers Paying overseas employees Clearly, these are all routine transactions that ought to have well-grooved processes by now.
Most businesses choose one of two main ways to make international payments: you can use your business bank or an international payment specialist.
Each has its pros and cons.