Corporate outbound global payments solution that supports B2B and B2C direct bank deposit payment processing in 65 countries and multiple currency international prepaid Visa® payout cards with high max load limits in 170+ countries.
Looking for a better way to make cross-border international outbound payments? If your corporation needs to pay people from all over the world then you will definitely want to read this post. This post is about the worldwide outbound payment solution we recommend to our clients.
As experienced payment consultants, we frequently receive enquiries about new and innovative “corporate load” solutions to the problems of making international payments at growing companies; and since this is such a hot topic in a rapidly globalizing world, we thought it would be worthwhile to share some information about the global payout solution we recommend and explain why.
Making international payments is a thorn in the side for many of our clients. Manually processing wire transfers is a major administrative hassle and quite costly; averaging over $20 per wire transfer to send and more than $10 frequently to receive (with foreign wires costing the most). It is not good for the payor nor the payee. Why does paying suppliers, contractors, or employees across various jurisdictions have to be so difficult?
Fortunately there is a better way to pay that is much easier to manage and substantially lower cost. Keep reading to learn more; and if you like the solution presented, you can ask a question or request a proposal using the contact form on the bottom of the page.
The solution we recommend features ease-of-use like PayPal but with costs more like a local bank transfer and the broadest global reach of any provider we know of. Think of it like an e-wallet connected to a global banking network and integrated with prepaid Visa “payout cards” reaching 170 countries. With bank accounts in multiple countries, what would normally be one high cost international payment transaction into two separate low cost in-country payments using direct-to-bank deposits. Reliable and proven with over 4 million virtual wallets in use worldwide. Specifically designed for corporations and organizations that need to automate and simplify outbound payments and commissions to employees, independent contractors, developers, distributors, affiliates, and other beneficiaries worldwide. Available to financial institutions and corporations that need to make between 1,000 and 500,000 global payments per month. Fees charged to payees can marked up to earn extra profit. Perfect for multi-national corporations with operations in many countries, outsourced offshore web development, direct selling organizations, established MLMs, marine and offshore, affiliate marketing, online marketplaces, education, clinical trials, market research, and non-profit NGOs.
Global Payment Distribution Solution
Easy-to-use, secure, and competitively priced payment service connecting international bank accounts, prepaid card accounts, mobile phones and cash outlets around the globe enabling corporations to distribute domestic and cross-border payments in a way that is simple and low cost.
Global Payment Network Featuring
– Global payments to 170+ countries worldwide
– Domestic, low cost, flat fee direct deposit to bank accounts in 65 countries
– Multi-currency payments in 25+ currencies
– International prepaid cards in 14 currencies
– Cash pickup at 400,000+ Western Union agent locations
– International wire transfers to countries across 6 continents
– Mobile airtime credits to 40+ wireless carriers in 10+ countries
– Online & mobile payment solutions available in 20 languages
Depending on your preference, the pricing engine can be configured to charge fees to either the payee or the payor. Bulk uploads and scheduled processing. Robust e-wallet accessible online and via smartphone through mobile-enabled website or mobile application. Automated ID collection and verification based on local/global AML and KYC requirements. Options for house brand, co-brand, and exclusive custom branding. API integrations available.
Your payees enjoy the benefits of quickly receiving their funds in domestic currency, reduced or eliminated foreign exchange fees, and the ability to choose payment methods that are most convenient for them — including bank direct deposit, prepaid cards, cash pickups, and more.
Participating Financial Services Institutions
Custom Branded Implementation Options
White label / private label branded to reflect your corporate identity and encourage brand loyalty and retention with your payees.
– Exclusive branded pay portal website with your likeness
– Custom branded dedicated URL (website domain address)
– Branded prepaid Visa card
– Branded e-mail notifications
– Branded iPhone/Android app
– Branded Passbook app
Exclusive white label / private label branded site with unique URL costs £7,500 for programme setup and can be rolled out in 8-12 weeks. English and Spanish language only. Minimum monthly transaction fee volume of £3,000 required with ramp-up over 120 days allowed from program launch.
Co-Branded Portal
Co-branded payment portal with your logo, business rules set-up, and end-user training costs £2,000 and can be rolled out in 2-3 weeks after contract is signed and payment is received.
Branded Global Prepaid Visa Cards
Compensation cards available in 14 currencies. Reloadable in real-time with instant funds availability. Online, mobile, IVR cardholder access. Personalized cards are embossed with the cardholder’s name and mailed directly to the cardholder’s residential address. £1,000 program setup fee, £2.50 per card with a minimum of 1,000 cards. Maximum single load and card balance is £45,000.
House-Branded Prepaid Visa Cards
– £300 programme set up fee
– £1.25 per card
– minimum order is 1 card
– maximum single load and card balance is £45,000
Languages:
English, French, Traditional Chinese, German, Spanish, Hebrew, Portuguese, Polish, Japanese, Malay, Korean, Arabic, Russian, Thai, Czech, Indonesian, Hungarian, Italian, Greek
Currencies:
USD, CAD, EUR, GBP, AUD, NZL, HKD, ZAR, PHP, MNX, PLN, SCG.
Current Outbound Direct Deposit Payment Processing Network
Leveraging bank accounts in 65 countries, direct-to-bank payments are processed like local payments from one in-country bank to another in-country bank. It is not a transfer of funds and for that reason beneficiaries can be paid quickly and much more cost effectively.
North America: Canada (CAD), USA (USD), Mexico (MXN)
Europe: Eurozone EUR for Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary (EUR or HUF), Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland (EUR or PLN), Portugal, Romania, Russia (RUR), Spain, Slovakia, Slovenia, Sweden, Switzerland, United Kingdom (GBP or EUR)
Asia Pacific: Australia (AUD), Singapore (SGD), China (CHY), New Zealand (NZD), Hong Kong (HKD), Philippines (PHP), Malaysia (MYR), India (INR), Indonesia (IDR), Japan (JPY), Taiwan (TWD), Thailand (THB), South Korea (KRW), Vietnam (VND)
Middle East: Israel (ILS), Turkey (TRY), UAE (AED)
South America: Brazil (BRL), Peru (PEN), Chile (CLP), Colombia (COP)
Africa: South Africa (ZAR), Nigeria (NGN)
Limitations:
– Only for verifiable corporations and non-profit organizations.
– Not available to money service businesses that deal in the transfer of fiat currency.
– Shareholders in the corporation must not have any prior record of fraud or financial crimes.
– Only corporations incorporated in the United States or European Union can issue prepaid Visa cards to 170+ countries. Entities not incorporated in the US, UK, or other EU country can still use the direct-to-bank payment network or in-country local currency direct deposit payment.
In our opinion as experienced international payment consultants, this solution described is the best way to pay people worldwide; it is one of the lowest cost and broadest reaching payment networks specifically designed for how to pay people from all over the world; whether it be for paying developers, distributors, employees, independent contractors, affiliates, commissions, suppliers, vendors, or other beneficiaries. Low cost and fast; funds are immediately available in the e-wallet and can be automatically moved onto the prepaid Visa card with a SMS notification and cardholders can buy things online within minutes.
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