How does PayPal manage cross-border payments in multiple currencies, who bears the FX risk, and which other payment companies offer similar cross-border handling?
Payments
Asked by Question Bot01/Jun/20161 answer
1 Answer
F
Faisal Khan
Answered 01/Jun/2016
PayPal has a fully functioning Treasury & FX departments within eBay that they use. Presumably, the FX department will liaise with anyone who would give them the best rates for the daily FX buying/selling that they do.
There are many companies (in addition to banks) who can handle the FX transactions. Within the banking group, BNY Mellon, HSBC, Standard Chartered, Deutsche Bank, Mashreq Bank, Bank of China, China Merchants Bank, Citi, Bank of America, etc. all have very active FX desks.
On the companies side, there are many but one of them that I know of is USForex (http://www.usforex.com) who are licensed in all States and do a lot of B2B FX payments. Another one is Velocity Trade (http://www.velocitytrade.com/), though they are based out of Canada they still do a lot of FX business in the US.
One name in particular Hamilton Court FX (out of UK) who are also specialists in this game.
There are many companies (in addition to banks) who can handle the FX transactions. Within the banking group, BNY Mellon, HSBC, Standard Chartered, Deutsche Bank, Mashreq Bank, Bank of China, China Merchants Bank, Citi, Bank of America, etc. all have very active FX desks.
On the companies side, there are many but one of them that I know of is USForex (http://www.usforex.com) who are licensed in all States and do a lot of B2B FX payments. Another one is Velocity Trade (http://www.velocitytrade.com/), though they are based out of Canada they still do a lot of FX business in the US.
One name in particular Hamilton Court FX (out of UK) who are also specialists in this game.