Paymaster, a UK payments processor, has launched Paymaster International Payments, an international payment and foreign exchange (FX) solution aimed at mid-sized corporates. Paymaster is part of the Equiniti Group, a UK financial services provider which makes payments to 31 million beneficiaries annually totalling £46 billion in over 180 countries.
The service aims to replicate the advances in domestic payments which have dramatically cut transactional errors and improved speed and security. In comparison international payments, which are predominantly made through small high street banks, can be inefficient, time consuming and prone to errors. Paymaster International Payments offers a way of making payments with low error rates, fast processing, transparent and competitive fee structures, and personalised customer service from dedicated payments and FX managers.
Keith Boughton, Paymaster’s insurance and payments director, said: “International payments have traditionally been slow, expensive and often plagued with errors. The bulk of these problems have been experienced by smaller to medium-sized organisations which have had to settle for conventional international payment solutions. Paymaster International Payments allows businesses to make secure and reliable payments to suppliers and employees across the globe at a competitive cost, and it is one of the easiest solutions to use on the market today.”
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