4 Easy Ways To Receive International Payments for Your Business
In an era of interconnected global markets, businesses are no longer confined by geographical boundaries and are constantly seeking efficient ways to receive international payments. Whether you’re a small startup or a multinational corporation, the ability to receive international payments seamlessly is critical for success. Traditional methods often come with high fees, delays, and complexities that hinder the seamless flow of funds across borders. In this article, we'll explore four key Verto products that make receiving international payments a breeze.
1. Global Account: Verto’s global account allows businesses to create a free international business bank account to be used to receive money from clients directly into a wallet. Verto’s global accounts support receiving international SWIFT payments. These are transfers made through the SWIFT network, which is a global network of financial institutions that facilitates international money transfers. This method is typically necessary for larger transactions or transactions between parties in different countries. For example, imagine you’re a manufacturer of industrial machinery based in South Africa. With a global account, you can create international banking details and seamlessly receive payments in euros, pounds or dollars from your distributors in other parts of the world without having to worry about conversion fees or dealing with multiple banks. Your customers can pay in their local currency eliminating confusion and any extra fees. This provides a smooth and cost-effective experience for both your business and customers. Opening a Verto Global Account account takes just minutes, allowing your business to collect payments in up to 25+ currencies including USD, EUR, ZAR, JPY, CAD, AUD and GBP. Create a global account here and start getting paid globally.
2. Local Account: A local account provides businesses with domestic accounts in specific countries. Verto’s local accounts are situated in the country of the currency, for example, GBP is based in the UK, ZAR in South Africa, USD in the USA and NGN in Nigeria. These accounts allow you to receive payments within a country using the local clearing system. This method is ideal for receiving payment from parties within the same country/area. For example, a software development company that operates globally but has a significant client base in the UK can receive payments from UK clients without incurring additional fees, creating a more cost-effective and streamlined payment process. Verto offers local accounts in six currencies-GBP, EUR, USD, DKK, NGN and ZAR. Need a local account? Get started here.
Learn more about Verto's Global Payment Suite
Learn more3. Multi-Currency Wallets: Verto’s Multi-Currency Wallet allows a Verto’s user to collect funds from other Verto users in up to 51 currencies. These funds can be held in their digital wallet. A multi-currency wallet enables businesses to hold and manage various currencies seamlessly. It’s like having a digital wallet with global capabilities. Businesses choose to use this method to receive international payments because it’s free, fast and with global reach. Transactions between wallets are free and wallet-to-wallet transfers are almost instantaneous. This method is typically for businesses who require their funds to be on a platform where they can convert on the go, make payouts or manage treasury operations. For example, a travel agency dealing with bookings worldwide can use a multi-currency wallet to handle payments in different currencies, from Japanese Yen for Tokyo tours to Swiss Francs for Alpine adventures. Create your multi-currency wallet here.
4. Payment Links: Verto’s Payment Links (also called Pay By Link) is the easiest and most flexible way to accept payments globally. It caters to businesses of all sizes and you do not need a website or additional integration to receive payment. All you need to do is to generate a payment link and share the link with your clients. Generating a payment link takes seconds and payees can pay by credit and debit card through a secure link. Verto’s Payment Link is available to receive payments from up to 10 currencies including AUD, CAD, EUR, JPY, NZD, GBP and USD. Click here to set up a payments link.
Verto’s solutions empower businesses to navigate the complexities of international payments effortlessly. Whether you’re a startup eyeing global expansion or an established enterprise streamlining operations, Verto ensures smooth and secure transactions for up to 50+ currencies at competitive rates. Stay ahead in the global marketplace by incorporating our solutions into your business strategy today.
Contact us for more information at support@vertofx.com or get started today!