Corporate payments refer to all sorts of cash transfers – both internal and external – executed by companies.
Sending and collecting payments is a cumbersome task for treasury departments, as it requires significant amounts of time and effort. Aware of that, banks have traditionally put effort into developing payment solutions to attract businesses and become their financial provider.
In the last 10 years, the emergence of the Fintech industry has brought about a profound transformation of the payments landscape. Digital communications have enabled a wide range of electronic payment interfaces that simplify the process, allowing mobile payments, sending and receiving payments in virtual bank accounts and widespread automation possibilities.
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.