Nowadays, rapid international payments are readily available for technology companies. An online video platform for example, can pay large numbers of content creators located in many countries – significant sums for very popular influencers, but typically relatively small payments to most creators. Ecommerce companies who sell across borders are able to handle payments from all over the world, and quickly process refunds when necessary.
Bulk cross-border payment solutions, like HSBC’s Global Disbursements, allow businesses to pay beneficiaries across the world, using a wide range of currencies. Cost savings can be made through lower transaction fees and also by taking advantage of bulk currency exchange rates.
When it comes to transparency, SWIFTgpi is a new standard for international transfers that lets banks, and their corporate customers, know where a payment is at any given time. Businesses can track their money until it reaches the payee, which means less time is spent checking on the status of a payment.
HSBC incorporates SWIFTgpi into its cross-border payments, providing visibility on the transaction so that the paying party always knows the status of an international payment, no matter where it is in the world. Additional services, such as HSBCnet Track Payments, allows a finance team to see all of the company’s payment activity at a glance and quickly decide if any action is required.
Finding the right partner
Rapid technological change is driving a revolution in digital payments, with significant improvements in both domestic and international transfers. Treasurers, FinTechs and ecommerce players alike can take advantage of this exciting wave of innovation by working with a financial partner that provides a comprehensive payments offering. At HSBC, we always listen to our clients and continuously invest to develop advanced solutions that leverage technology to support their needs in both domestic and international markets.
To find out more, please contact your relationship manager.