News Views & Insights on International Money Transfer

Introducing LocalPay, Global Receivables Made Simple

Introducing LocalPay, global receivables by PayRecs. Improve cash flow, reduce fees and simplify payment reconciliation. LocalPay by PayRecs now allows businesses to receive payment in up to 36 different currencies without the need to integrate any technology, open a new bank account or take on any FX risk. It’s like magic.

Innovate or Antiquate

After hearing the same anecdotes from Jon’s experience with former customers, and seeing these frustrations exhibited in the blank stares of prospects, it was clear that these mid-sized (and some large-sized, Fortune 100’s too) were stuck in a world of obsolete, maintained by the financial institution overlords who scoff at innovation.

Allow Your Customers To Pay In Foreign Currency

Most companies prefer to bill and get paid in their currency rather than their customer’s currency. After all, you don’t have any use for someone else’s currency. And you certainly don’t want the hassle of opening foreign bank accounts. But that may not be what’s best for your business. Remember, billing in foreign currency is different than allowing payment in foreign currency.

FX 101 – Understanding the Foreign Exchange Market

Understanding the Foreign Exchange Market can seem intimidating. Which is why many businesses and individuals seek to avoid “having to deal with FX.” In my 15 years advising corporations on FX risk the most common phrase I heard was ‘we don’t have any FX risk because only deal in US Dollars”. That’s a nice thought, but if you are doing business outside of your home country you have FX exposure. Which is why it’s important to understand the FX market.

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