For companies with international footprints, Global ACH provides a number of advantages over current cross-border payment options. Global ACH is less expensive than SWIFT and other third-party options that apply FX mark-ups, as per the press release. In addition, Global ACH provides greater predictability in the final amount received by payees because there are no lifting or unknown transaction fees. With Modern Treasury’s solution, companies can partner with a bank once and then expand globally without having to choose and integrate different payment rails in each country.
Modern Treasury and SVB expect growth in Global ACH in a wide range of industries and use cases, including marketplaces that pay out users and suppliers in international markets, shipping and logistics firms that disburse funds to vendors and suppliers abroad. Additionally, financial services providers, such as payroll and lenders sending funds to international recipients, companies with large numbers of international suppliers and contractors, and software providers offering accounts payable services for clients paying out globally or facilitating remittances can also enable growth with this solution.
Modern Treasury helps companies unlock growth, enhance customer experiences, and drive efficiency through their business. The payment operations platform and best-in-class developer tools move companies forward with faster payments, effective workflows, full data visibility, and seamless bank integrations.
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