- The Option to send money anywhere in the world
Sounds aspirational? Actually, not! In today’s digital world, your clients, vendors, and suppliers can be anywhere across the globe. Apart from this, your b2b international payments provider must be able to facilitate select currency clearing across the world, e.g USD/EUR payments.
2. Compliance is Crucial
The last thing you want is to get stuck with legal complications arising out of a transaction. A good payment provider will have a solid compliance infrastructure that flags key issues and guide you with clarity. Furthermore, there are different laws in different regions. E.g – UK’s General Data Protection Regulation clearly mandates what has to be done with consumer data. These rules vary in China and other regions.
3 Accessibility to China
China is one of the major exporters in the world and trades with several countries. Often, companies are able to procure cost-efficient materials from suppliers in the region. Hence, it is important to partner with a payments provider who is connected to the local payment network in China. A lot of companies find it favourable to clear USD payments to the region and hence your b2b international payments partner should be equipped to do so.