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OPTIMISE YOUR: card, payroll and cross-border B2B payments

The four ten-minute quick-fire sessions from FinTech suppliers at the ACT Cash Management Conference was most entertaining and provided several key ideas and examples of what to do to optimise and improve the efficiency of key processes in corporate treasury. Three of these presenters have supplied slides, so we can report on their session.

Optimise your card payments

APEXX provides a payment platform that enables merchants to connect “via a simple API connection to the world's payment ecosystem, increasing conversion at lower cost and satisfying their entire payments needs.”

The problem is, they argue, that despite regulation card payment acceptance costs have been rising, as their figure below shows:

Source & Copyright©2019 - CMSPI

They showed how the merchants need to optimise the whole MSC not just the interchange by connecting to the APEXX award-winning payment optimisation gateway which:

  • Provides one single API gives access to an end-to-end payment gateway that is modular in design fully PCI-Level 1 compliant
  • Optimises payments by routing to the best-fit payments suite for your needs
  • Reduces costs by:
    • Focus on the whole MSC, including Scheme fees and Interchange. Audit all the costs being charged. One off or in real time.
    • Optimise Domestic v. Intra v. International processing
    • Provide access to local schemes (where available e.g. CB in France to avoid V/MC scheme fees).

For more see:

Optimise your global B2B cross-border infrastructure 

Currencycloud is today the provider of much of the infrastructure for B2B cross-border collections, conversions and payments for an astonishing number of banks and other suppliers. The international B2B payments market is huge and growing fast and is market that Currencycloud believes the banks cannot keep up with due to their legacy systems which are holding them back.

Currencycloud is a comprehensive B2B cross-border infrastructure solution for collections, conversions, and payments which are delivered through innovative APIs and a full-stack technology platform. Already their volumes are huge:

Source & Copyright©2019 - Currencycloud 

Currencycloud claim that they are re-inventing the cross-border business and their platform is being adopted by FX brokers and remittance companies, banks and issuers, and corporates through channel partners, see figure below:

Source & Copyright©2019 - Currencycloud 

So many corporates will be using the Currencycloud platform via their partners. 

And Currencycloud reduces your payment costs, as the figure below shows:

For more see: 

Optimise your use of real-time payments

Income Group is an FCA regulated real-time payment processor who works with business payment users to uncover the true costs and risks of making payments. They claim that they can reduce payment costs by 50% or more and at the same time reduce risks. 

Currently, they are focusing on payroll costs where they enable payroll payments in three seconds not three days, for pence not pounds. Today, the workflow for monthly payroll by BACS is shown in the figure below:

Source & Copyright©2019 - INCOME GROUP

While with IG Send the payment is made on the 5th day in real-time saving money and reducing risk and administration, see figure below:

Source & Copyright©2019 - INCOME GROUP

Income Group is adapting their IGsend service to tackle accounts payable and cross-border payments.

For more see: 

CTMfile take: Are you really: optimising for your card payments? Optimising your cross-border payments by using the most effective infrastructure for B2B cross-border collections, conversions and payments? Optimising your payroll payment processing - would real-time payments save you a bundle and cut your risks?

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