April 18, 2024

In search of transparent pricing

Making international payments does not have to be so expensive.

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High fees, hidden costs, and an overwhelming sense of a lack of value for money leave most businesses feeling shortchanged after making an international payment.

But what if there is another way, a better way? What if there is a way to make payments more efficient and less expensive based on holistic value and priorities specific to each business?

Across Hong Kong, Singapore, and the UK, over 60% of businesses tell us that contrary to popular belief, being the fastest is only sometimes critical, and they would prefer to pay slightly lower fees even if it means a slower transaction speed. This increases to 75% of businesses in Hong Kong and 78% in Singapore.

While transaction visibility is critical for 55% of businesses, for many companies – particularly those in Singapore - visibility across their payments and transactions isn’t essential. They would prefer to have the flexibility in pricing to move with their priorities.

Expense is often weighed against value for money. For businesses with complex needs who want and value a dedicated person to support and manage their payments, the ability to pay a slightly higher price for this valued service still makes for a cost-effective solution.

With transparent value-driven fees, making an international payment doesn’t have to be the most expensive part of the day.