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Collection Factory

Streamline and simplify your collection process using currency accounts

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Multi-currency collection challenges

When it comes to multi-currency collection, there is no ‘one-size-fits-all’ approach. Depending on your business model, your collection needs may vary. Some of the key challenges we often see that affect international companies exporting or selling online are:

  • Lack of visibility over when their payments are received
  • IBANs shared among more than one company make collection and reconciliation more complicated
  • Online marketplaces and e-commerce companies typically pay their PSP an additional 1-3% in FX conversion fees
  • Bank fees and commissions are not always transparent, meaning that the collection process is more expensive than it needs to be, reducing their margins
  • A very manual approach to collection, with multiple user interfaces and banks involved in the process

 

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Centralise your payments collection

Kantox’s Collection Factory is an innovative solution for international businesses looking to centralise their multi-currency collection and accounts receivable processes.

Easily open accounts in 29 different currencies within the Kantox eco-system and manage everything from one user interface. From there, you can assign Kantox-issued IBANs to each client or by each currency, helping to simplify collection and reconciliation. Use our system to convert funds into whichever currency you require and make payments. 

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Benefits of using Collection Factory

  • Open accounts online and start collecting within days
  • Receive up to 29 foreign currencies in different currency accounts
  • IBANs issued by Kantox and appear in your company’s name, making the collection and reconciliation process smoother
  • Simple, straight-through-process (STP) saves time and money
  • Immediately save on FX fees by having your PSP settle directly into your accounts (e-commerce companies and online marketplaces)
  • Have Kantox automatically convert your funds and save on FX conversion fees  
  • Improve your customer’s experience by letting them pay in their preferred currency

 

Learn more >>

Other Solutions

Dynamic Hedging

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Dynamic Pricing

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Currency Accounts (IBANs)

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Payments Factory

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Start collecting in more than 29 currencies

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You'll be able to use all Kantox features, but trades will not be live and no real money will be exchanged, so you can test the system as much as you wish.
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Kantox Limited is registered in England and Wales as a Limited Company: No 07657495 and is authorised by the Financial Conduct Authority, FRN: 580343, as a Payments Institution under the Payment Services Regulations 2017.

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