“Corporate payment solutions”
Corporate payment solutions is a generic term to describe a wide range of products offered by banks and financial technology firms to help corporates and SMEs to simplify and improve efficiency in processing payments.
Banks have traditionally been the main provider of payment solutions for businesses. However, technological advances and regulatory changes have generated an unprecedented transformation in financial services in general and payment services in particular.
At the same time, globalisation and trade liberalisation have encouraged businesses of all sizes to look for growth in foreign markets. This has increased their base of foreign customers and providers in parallel with their volumes of cross-border payments.
In this context, Fintech firms have emerged as an alternative to banks with a wide range of electronic payment solutions. Their solutions provide simpler processing, operational efficiency and transparency.
In the case of international companies with significant volumes of cross-border payments, platforms like Kantox’s Payments Hub provide substantial advantages. These include bulk payments to simplify the execution process, automated payment processing, transparent pricing in FX operations and full traceability of payments through SWIFT message.