PhotonPay Boosts Efficiency and Revenue for Cross-border Payments
Industry Insights
For cross-border trade businesses, a top priority is ensuring fast and secure cash flow.
While it may seem straightforward, challenges such as complicated account opening procedures, hidden fees, and slow fund transfers make it a daunting task.
To address these pain points, PhotonPay built a digital payment network with strong compliance strength and technological innovation capabilities to take the friction out of global payments and enhance operational efficiency for businesses operating on a global scale.
Create domestic and multi-currency accounts in minutes
PhotonPay offers a fully online process for businesses to open accounts in up to 11 currencies, making it simple and quickly. The account name can match the company name, eliminating any confusion buyers may have during payment, which in turn speeds up transactions and boosts buyer trust.
PhotonPay supports local payments in countries and regions, including the U.S., U.K., EU, Hong Kong, Japan, Indonesia, Mexico, and more. Buyers can pay in their local currency, reducing the complexities of currency exchange. When buyers exchange local currency for USD at their bank, the bank may charge a 1-3% premium on the exchange rate. By easing the burden of currency conversion, PhotonPay minimizes the risk of delayed or reduced payments—or even payment defaults—due to exchange rate volatility.
Diverse FX Management Solutions
The PhotonPay platform provides 24/7 real-time foreign exchange rates, updated every 12 seconds. It also allows businesses to set up alerts for ideal exchange rates, ensuring that businesses stay on top of rate fluctuations. With free real-time market rate monitoring, businesses can avoid missing out on favorable exchange rates.
Not ready to exchange at the current rate? PhotonPay offers an "Automated Currency Exchange" feature where businesses can set their desired rate, currency pair, and amount. When the set conditions are met, the system automatically converts and sends a notification via in-web message and SMS.
PhotonPay also offers "Instant Currency Exchange", available 24/7. Businesses can complete foreign exchange transactions without complex procedures or delays, even on weekends and holidays, with funds credited in real-time. PhotonPay's exchange rates are based on transparent, competitive market rates, allowing businesses to maximize their profits.
Unlimited global payouts
Seamlessly integrated with the global payment network, PhotonPay supports payments in 180+ countries and territories and over 60+ currencies. Cross-border trade companies can initiate mass payouts via the PhotonPay platform. After transaction details are verified, the system processes multiple payment orders quickly, automatically selecting the most cost-effective payment route to deliver funds to global service providers, which can be completed within one working day.
Photon Card covers all online and offline consumption scenarios through Mastercard and Discover®️ Global Network. It enables efficient multi-currency payments across various scenarios, including platform rental fees, advertising on and off-site, overseas procurement, and third-party supplier payments. It also facilitates precise management of employee salaries and business travel expenses.
Fund security is also crucial in cross-border payments. PhotonPay fulfills requirements from FinCEN, FCA, C&ED and more. Partnering with a network of top-tier banks and global financial institutions, PhotonPay provides strong, compliant, and reliable financial transaction support, ensuring secure collection, currency exchange, and payments. This guarantees both the safety and efficiency of your financial operations.
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