Transferring money directly through a bank is expensive.
This is because the margin and fees applied by the bank are usually determined by the size of the business, the volume of currency they move or the number of payments they make. So, in this respect – size unfortunately does matter and it’s the reason why South African SME’s are at a huge disadvantage. They just aren’t big enough to negotiate better pricing.
It’s no secret, Banks have been overcharging small businesses for years. Fortunately, we don’t operate like this and size doesn’t matter to us. When you become an FX Paymaster customer, you’ll get instant access to our market leading payment technology, preferential rates & fees and highly experienced team.
We founded FX Paymaster in 2015 because we believe every business should have access to fair and transparent pricing and be able to make payments quickly and easily from anywhere.
It’s time SME’s had the functionality to move money around the globe directly at their fingertips.
We’re setting a new standard in SA …
Our investment in Technology makes this possible. We’re working hard to make our payment platform, pricing and services available to all South African businesses – irrespective of how big they are or how many payments they make. This mission makes us unique.
In fact, we want every business in South Africa making international payments to use our platform to save time and money.
Moving Money Offshore from South Africa
Our plan is to build the most trusted payment platform in South Africa…
To date, banks have done little to improve the back-end systems and processes involved in cross-border payments. As a result, cross-border payments remain expensive for customers, who also face numerous pain points (for example, lack of transparency and tracking, as well as slow processing times).
This is where we’ve been able to outperform banks. Our simple user interface is designed to empower SME’s by giving them the capability to transfer money quickly, conveniently and cost effectively, whenever they need to. We’ve even standardised our pricing for business to business cross-border payments so that its 100% transparent. A first for the industry!
By connecting our innovative payment technology to a local bank in South Africa – we’re able to control and streamline the payment process and reduce the time, cost and effort it takes to make foreign payments. This enables us to be more competitive than any bank in South Africa.
If your business needs to make Same Day International Payments contact FX Paymaster today.
