Do large international companies move money globally using the same banks and tools like PayPal that individuals use?
Payments
Asked by Question Bot06/Aug/20151 answer
1 Answer
F
Faisal Khan
Answered 06/Aug/2015
Tom Rundle explains it well. Depending on the company and how they value and handle payments, there are many methods. For example a large US corporation that pays out affiliate income to travel agents/agencies in over 80+ countries and in 40 currencies most likely would prefer to deal with someone who can handle payouts in all these countries (and manage the banking, licensing and compliance part) of the payouts.
Alternatively, the same company could decide to do it themselves (though very rarely does this happen).
Some deal with single and/or multiple banks for the different corridors where the payments have to be, some deal with a single bank (their bank) and a license FX, multiple-market player (OZ Forex's US Forex for example)
Some may decide to work with specialized payment providers/payment networks.
It really depends on the volume, value, number of transactions, type of transactions, payout mechanisms and customizations that are required in the payments.
Based on the above factors, companies they go shopping in finding the best fit that makes more economical sense to them, balancing the act of their involvement (i.e. time & resources).
Alternatively, the same company could decide to do it themselves (though very rarely does this happen).
Some deal with single and/or multiple banks for the different corridors where the payments have to be, some deal with a single bank (their bank) and a license FX, multiple-market player (OZ Forex's US Forex for example)
Some may decide to work with specialized payment providers/payment networks.
It really depends on the volume, value, number of transactions, type of transactions, payout mechanisms and customizations that are required in the payments.
Based on the above factors, companies they go shopping in finding the best fit that makes more economical sense to them, balancing the act of their involvement (i.e. time & resources).