resources-post-top-bg TBI Pay: Next Generation in Cross Border Payments

TBI Pay: Next Generation in Cross Border Payments

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Simplify and consolidate your cross border payments. Streamline reconciliation and maximise time, cost, administration and efficiency savings.

As companies continue to trade on a more global platform, cross border payments have and will continue to increase as a result. Payments can quickly become complex, time-consuming and resource-intensive with traditional payment

Banking fees on cross border payments are significant for all companies. In many cases, these wire fees are hard to determine ahead of executing on a payment. Our research has shown that the average cost per payment is €10. If your business is to make an average of 25,000 payments per month, you will incur €3,000,000 in banking charges each year – so it all begins to add up!

Common challenges for companies with cross border b2b payments

Reconciliation Issues & Friction Points

Due to lack of technology integration, payment solutions can be fragmented taking significant time to issue, reconcile payments & resolve errors.

Delayed Payments

The traditional banking system has multiple parties in the critical path. Beneficiaries can often take days rather than hours to receive payments

High Cost of Cross Border Payments

Handling fees charged by each bank in the chain results in significant bank sender fees & overseas receiver fees.

TBI Pay powered by TransferMate Global Payments

TBI Pay is the next generation of cross border payments, made possible through our global settlement network of local bank accounts across 162 countries in 134 currencies. We offer companies the ability to consolidate multiple payment providers into one solution. TBI Pay powered by TransferMate Global Payments is regulated to banking standards globally with one of the largest footprints of payment licences in the industry. We encrypt data to the highest standard and certifications and are SOC 2 and ISO 27001 certified.

TBI Pay’s market-leading technology & extensive treasury capabilities make us the partner of choice for leading brands around the world. Our award-winning payments technology is built upon decades of experience, transforming B2B payments into a streamlined, one-click process with seamless user experience.

Businesses can make one local payment, which fulfils up to 10,000 invoices in multiple currencies. There are no handling fees, no international sender nor international receiver fees – with payments delivered overseas within 48 hours. The TBI Pay powered by TransferMate Payments platform provides full visibility and control to reduce errors & track payments. This removes the need for manual invoice reconciliation, ultimately saving businesses time and money

We’re empowering business to take control of cross border payments.

TBI Pay powered by TransferMate Global Payments allows your business to integrate our payments technology with your current systems, enabling you to focus on what you do best, while we take care of your payments. Our Global Payments solution reduces administrative workload saving your business time and money.

See more Taxback International Articles

The Countdown Is On: VAT after Brexit

30 November 2020: We put your questions to our Global VAT Director, Lisa Dowling to understand how businesses can still prepare for Brexit.

Comply by TBI: VAT Software backed by experts

Get full visibility and control over your global VAT compliance obligations via Comply.

When is a business required to register for VAT?

If you are an online seller or sell across borders, do you know when your company must VAT register in the country you are supplying to?