With the increase in globalization, international trade companies have found it easier to expand into new markets. Innovations in communication and transportation have paved the way for globalisation, yet many companies struggle with a fundamental aspect of business: the exchange of money for goods and services. Below are six issues we commonly see importers and exporters face when dealing with international payments:
International payment processors provide solutions to these issues by streamlining the process. They bring transparency and speed to transactions between importers and exporters, thus solving important cash flow issues. Payment processors also take away all the headaches that come with region-specific challenges in markets where businesses don’t have banking relationships or infrastructure.