“Cross Border B2B Payments – Today’s landscape; Tomorrow’s opportunity”
London, 8th February 2016 – Saxo Payments, the global transactions services provider, is using the inaugural Money2020 Europe exhibition and conference to launch an industry white paper examining the challenges and opportunities in the B2B payments arena. Featuring exclusive research amongst PSPs, acquirers, banks and merchants, the Saxo Payments white paper will provide an insight into the barriers that need to be overcome for businesses trading across Europe.
“There is no question that the payments industry is facing an enormously exciting period and Money2020 Europe is certain to provide a great forum for businesses operating in and around this sector to debate the challenges and opportunities”, said Anders la Cour, Chief Executive Officer, Saxo Payments. “But our exclusive research has identified that despite the phenomenal pace of innovation, it appears that businesses are putting up with high costs and slow service when it comes to cross border B2B transfers simply because they don’t have the time and resources to challenge the status quo.
“We look forward to talking to the payments providers that are seeking to offer merchants a better service and will be identifying where the Saxo Payments Banking Circle can play a pivotal role.”
The Saxo Payments Banking Circle, which announced its first members last June, delivers significant advantages for FinTechs and their merchants, providing transaction fees lower than any traditional bank; highly competitive FX rates and transfers in minutes or seconds rather than days.
By becoming a Member of the Saxo Payments Banking Circle – which is open to any FinTech business (card acquirer, payment gateway, P2P lending business) or other tech-related enterprise- a business can provide bank transfer capabilities in its own name, offering the ability for merchants to pay suppliers and partners around the globe at low cost. Merchants also benefit by joining the Banking Circle.
Merchant Members can reduce the cost of international bank transfers significantly, sending and receiving transfers instantly and without incurring a landing fee to a recipient within the Banking Circle – no matter where they are in the world. Payments made to non-members of the Banking Circle can be made at low cost typically enabling the non-member to receive payment in one day – irrespective of location.
“Our goal in creating the Banking Circle banking platform was to help payments businesses extend their value chain”, added Anders la Cour, Chief Executive Officer, Saxo Payments. “With a number of key payments brands already members of the Banking Circle, including First Data, Tuxedo Money Solutions, Credorax, and SafeCharge, the Saxo Payments Banking Circle is playing a fundamental role in global trade and we look forward to talking to payments businesses at Money2020 Europe about how we can help them extend their offering.”
