22/05/2020

The automated mass payment revolution


The age of automation, the digital revolution, the fourth industrial revolution: whatever you want to call it, the rapid rise of internet-enabled automation in the 21st century has had a profound impact on the world of international payments – and will continue to do so thanks to a constant stream of digital advancements.

Take the need for cross-border businesses to make mass international payments for example. Whether they’re paying employees in their offices overseas or paying suppliers around the world, their treasury department no longer needs to lose sleep over the dreaded M-word: Manually.

Gone are the days when processing a large volume of international payments has to involve spending an excruciating amount of time inputting the individual details – a laborious task that is fraught with complications: it’s a drain on resources; it can result in human error; issues often arise around paying and receiving funds in multiple currencies, and; the cost of doing so can spiral out of control.

Automated mass payments solutions

The development of automated mass payment solutions by forward-thinking providers has streamlined the whole process. Now it’s possible to make bulk payments to hundreds of recipients with just a click of a button.

The benefits of leveraging mass payment technology are truly compelling:

  • You only need to provide one list of payment instructions.
  • You don’t need to manually payout to all your vendors or employees. Simply make one transfer to cover the entire batch.
  • You can secure a great exchange rate for every payment in a specific currency, saving yourself and your beneficiaries money on every transaction you make.
  • You can pay overseas suppliers, vendors and staff in their preferred currencies.
  • You can simplify the payment of commissions or refunds.
  • You save time and increase productivity, with simplified reconciliation.
  • Flexible integration options let you retain control of accounts payable and treasury operations.
  • Enables you to extend your global payment capabilities and grow your business.
  • Email confirmation allows you to automatically notify each beneficiary once your international payments have arrived on time.

Businesses that benefit from automated mass payment solutions

The convenience, flexibility and cost-efficiency provided by automated mass payment solutions benefits businesses that need to pay large numbers of suppliers, partners and/or individuals at once. These innovative tools have been developed to manage cross-border bulk payments for both business-to-business and business-to-consumer transactions; and are used by a variety of industries for a range of purposes – from paying suppliers, affiliates and staff to managing rebates and other disbursements.

Typical examples of businesses that deploy automated mass payment solutions include manufacturers with international suppliers, fintechs that process payments, banks, global payroll providers and businesses that manage their international payroll requirements in-house. These services grow in importance as the business grows, and the volume of payments increases.

RationalFX

Our innovative mass payment solutions facilitate fast, secure and cost-effective mass payments across the globe to over 50 currencies at once.

Forget manually inputting endless streams of data; simply send us your payment instructions and we’ll do the rest.

To find out more email partnerships@rationalfx.com or call us on 020 7220 8165.


Why choose RationalFX?

Based in the heart of London’s financial district Canary Wharf, RationalFX has traded over $10billion in currencies across the globe. Take advantage of our competitive exchange rates, market expertise, suite of FX products and online payment platform when you make bank to bank transfers in over 50 currencies worldwide.

Whatever your reason for making overseas payments, we’re confident our currency specialists can save you time and money while providing peace of mind. Call our team now on: +44 20 7220 8181