Frictions in B2B Forex

posted by Abishek Muthian Ideator , 1053 days ago , show insights

Frictions in consumer to business payments have largely been reduced due to innovative solutions by payment gateway and hosts but it remains in business to business transactions.

Account payable teams of large multinational corporations still rely upon legacy wire transfers for foreign exchange incurring huge transaction fees, delays in receiving the money and often have to visit the bank in person for Forex remittance(In today's remote first world!) . The problem is more pronounced when one of the parties is from a developing country and compliance hurdles adds up to this problem.

So I feel there's large need-gap in the solutions for B2B money transfer.
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