Whilst cost comes top of the list of concerns for half of payments-related businesses when it comes to cross-border transfers, the speed of setting up a currency account, FX and payment facilities is the greater risk when it comes to servicing clients.
One in five respondents to the Saxo Payments exclusive research said that it takes 2-3 months to set up new accounts with their current provider. And nearly half (44%) cited payment settlement times as causing the longest delay to the processing of FX payments.
FX businesses revealed that over half (51.6%) are not able open currency accounts on behalf of clients with their current banking provider. And nearly a third (29%) said it took 2-3 months to set up currency account, payment and FX facilities. Almost half (48.4%) of FX businesses also said that their current provider does not help them reach or expand into new international markets.
For more information about Saxo Payments, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright