It’s no surprise that the business is a global battleground. Even when a business is successful on a national level they can often stand to benefit from accepting customers and suppliers from across the globe.
Unfortunately, navigating international banking regulations and options can be a nightmare. With dozens of currencies and hundreds of competitors it can seem almost impossible to make sure that your business isn’t missing out on a vital service or paying more than they need to.
While there are many solutions to this problem, it is often the simplest solution that works the best. This is why it’s vital for businesses and individuals to consider just how vital the “banking” component is to their business. By reducing the role that traditional banking has in your business, the more agile your operations can be. Not only does this benefit the speed and turnaround time of accounts payable and receivable, but this method can also reduce expenses as well.
This is the philosophy that Psi Pay has built itself upon. Instead of hindering itself with large scale international banking regulations and restrictions, Psi Pay has positioned itself as a payment solutions provider first and foremost. This allows them to reduce costs and remain efficient, even more than the bulk processors they compete against.
What’s amazing about this service is that clients rarely need to sacrifice useful benefits and features available from large scale international banks. Customers can make and take payments anywhere in the world, all at instant speed. In addition, the platform currently supports 44 different world currencies, all without a requirement to be holding this currency in an active account.
This process is kept efficient by allowing customers to establish Virtual Accounts for their employees and customers. Since these accounts are all on the same system, owners can instantly deposit and make inter-account exchanges in an instant. Beyond this, clients can also use the same system to pay and transfer funds to online merchants and partners that also support this Virtual Account. This is true even for merchants outside the direct organization; anything within the PSI Pay network happens instantly and cheaply.
An additional feature is the ability for corporate accounts to be kept departmentalized from the top down. This allows complete control and efficiency on a per department basis all while maintaining complete oversight at the highest levels of management. Since this Psi Pay isn’t a “bank” or creditor, budgets can never be overspent without first being topped up by the appropriate authority.
While there is far more ahead for this company than just these benefits, it’s clear to see that a simple approach can save businesses time and money, and only a modern, agile company like PSI Pay can bring these benefits without the usual banking bloat.
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