Why MTFX is the Superior International Payments Provider for Your Business

Last Updated: 11 Dec 2020

We all know that fintech in the international payments space is a dime a dozen. Even though they are preferred to banks and financial institutions due to their speed to market and flexibility, there are only a few that offer seamless integration, can save you and your business money, and provide an all-in-one solution to satisfy all of your business's international payments.

When businesses turn to fintech they usually have to partner with multiple solution providers to ensure they have all their needs met, and this can become cumbersome, driving businesses to revert to working with banks simply due to lack of management and complexity of their day-to-day business, even though, in the end, it costs them more. The importance of the user experience and ease of use when integrating a third-party platform provider is just as important as saving costs.

On top of this, not only do businesses sometimes have to integrate multiple solution providers, but in some cases, transaction fees are removed only to be made up for on the back end by being included within the marginal spread of the foreign exchange rate. Not all solution providers have the capacity of network partners in this category to offer their customers competitive foreign exchange rates, leaving businesses exposed to market volatility, which tightens their cash flow.

Why should you choose MTFX?

When it comes to working with a third-party platform provider for your business, partner with one that prioritizes your business's needs and offers an all-in-one solution that protects your business from market volatility.

1. Fast transfers with competitive rates guaranteed to beat the bank

Banks usually have less competitive foreign currency exchange rates. They employ what is known as the mid-market rate in trading with other banks. The mid-market rate is not a rate they disclose or offer to customers.

At MTFX, with over 29 years of experience in the market and a well-established network, we can offer rates better than those of mid-market companies to our customers across more than 190 different countries. The speed and ease of use of our money transfer solutions allow our customers to settle money faster, saving up to 5% compared to what banks can offer. This ensures that payments to cross-border suppliers and customers arrive on time, freeing up business capital.

2. Access to next-generation innovative technologies

MTFX’s innovative solutions for both international and domestic payments are the first in the category and enable customers the ability to grow their transaction volume. MTFX’s technologies, powered by AI, machine learning, and biometrics, reduce the number of payment failures, which result from inaccurate data input.

Our payment solutions offer choice and flexibility for customers and enable them the ability to accept many different payment types from their customers as well as offer vendor-preferred payment types like; pre-authorized debits, wires, EFTs, and credit cards, and also enable customers with next-generation digital payment solutions like mobile wallet payments through a simple API integration that banks and other third-party providers can’t offer.

Our innovative tech solutions are one of the few on the market that eliminate the need for manual intervention or payment reconciliation with an all-in-one solution set that integrates direct international payments into businesses' ERP and AR systems.

3. An easier way to open and manage foreign bank accounts

It was built to save your business money on overseas transfers while providing you with low exchange rates and transfer options for every type of business. Our team of market experts reduces your business exposure and improves your cash flow by allowing you to make payments and hold funds in local currencies, which you can access 24/7.

MTFX can enable your business to open and hold money in domestic multi-currency accounts across multiple currency types, removing the complexity of opening and managing multiple bank accounts across borders.

4. FX risk management strategies to keep your cash flow safe

Managing exposure to FX currency fluctuations is an additional level of due diligence that any business owner needs to practice. Your cash flow is the lifeblood of your business, and you need to protect it from unfavourable shifts in FX exchange.

MTFX has developed superior risk management solutions and hedging tools, including forward contracts and market orders that are customized for businesses of all sizes. We offer more competitive global pricing for your business to leverage, so you can ensure that you make payment transfers when foreign exchange rates are optimal.

5. Safe, reliable, and compliant money transfers

In addition, at MTFX, we take compliance seriously. Our Policies and verification procedures for KYC, fraud, sanctions screening, and anti-money laundering activities are industry-leading and exceed standards.

Our next-generation technologies provide our customers with bank-level security to ensure that your overseas business is safe and protected, so you can focus on growing your business across the globe.

Our platform can help protect your overseas cash flow

Learn more about how a third-party payment platform can help you retain your local customers and expand your international business. Contact one of our market experts at MTFX, and we will show you how foreign exchange currency risk management can protect your business while increasing profits.

Open an account with MTFX today and start enjoying fast, cost-effective, and convenient international money transfers.